Asia Markets Fall After 2-Day Rally: Live Updates

Asian markets fall as investors take stock of the outbreak

Asian stocks were mostly lower on Wednesday, as investors paused after a two-day rally to assess the world’s response to the coronavirus outbreak.

Stocks in Japan were flat by midday, but markets in China, Hong Kong, South Korea and Australia fell slightly. Futures for American and European markets suggested mixed openings.

Investors had, over the past two days, found solace in signs that the outbreak is peaking in some of the hardest-hit parts of the United States and Europe. On Wednesday China lifted its lockdown on the city of Wuhan, where the virus first emerged, in another sign of progress.

But markets remain fragile. Japan and South Korea this week joined other countries preparing big economic rescue packages. Still, the freeze on economic activity from virus containment efforts could have a negative impact for months and years and require even more economic stimulus actions by world leaders.

Article source: https://www.nytimes.com/2020/04/08/business/stock-market-today-coronavirus.html