CANBERA (dpa-AFX) - Asian stocks ended mixed on Thursday as the coronavirus continued its punishing march, infecting over 937,000 people and killing more than 47,000 worldwide.
White House officials have warned of nearly a quarter million deaths in the U.S. from COVID-19, raising fears of a prolonged economic slump in the world's largest economy.
China's Shanghai Composite index climbed 46.12 points, or 1.69 percent, to 2,780.64 after the country logged fewer new infections. China had 35 new cases of the disease on April 1, all of which were imported, according to the National Health Commission. Hong Kong's Hang Seng index edged up by 0.84 percent to 23,280.06.
Japanese stocks extended losses for the fourth day running as the global coronavirus death toll continued to climb and experts warned that Japan was on the brink of a medical crisis.
Tokyo reported 66 cases of COVID-19 infection on April 1, making it the biggest jump in a number of infected cases in the Japanese capital, media reports suggested.
The Nikkei average fell 246.69 points, or 1.37 percent, to 17,818.72, while the broader Topix index ended 1.57 percent lower at 1,329.87.
Heavyweights ended mixed, with Fast Retailing losing 2.4 percent while SoftBank advanced 2.5 percent. Subaru Corp slumped 7.2 percent after the auto maker said it would suspend global production.
Australian markets fell heavily, with banks pacing the decliners on concerns that they may cut dividends in coming weeks.
The benchmark S&P/ASX 200 tumbled 104.30 points, or 1.98 percent, to 5,154.30, while the broader All Ordinaries index ended down 102 points, or 1.93 percent, at 5,188.70.
The big four banks fell between 3.8 percent and 5.6 percent while insurer Suncorp lost 4.4 percent, QBE Insurance declined 5 percent and Insurance Australia Group tumbled 3.5 percent.
Mining heavyweights BHP and Rio Tinto rose over 1 percent while smaller rival Fortescue Metals Group rallied 3.5 percent. In the oil & gas sector, Origin Energy climbed 3.3 percent and Santos soared 5.9 percent.
Seoul stocks rallied as oil edged up and investors assessed the possibility of additional stimulus from policymakers. The benchmark Kospi jumped 39.40 points, or 2.34 percent, to close at 1,724.86.
South Korea again saw a slight decline in new coronavirus cases today, but the country remains wary of cluster infections and imported cases. According to the Korea Centers for Disease Control and Prevention, new infections hovered around 100 or fewer for the 21st consecutive day.
Consumer prices in South Korea were up just 1.0 percent year on year in March, Statistics Korea said today. That was in line with expectations and down from 1.1 percent in February.
On a monthly basis, inflation gained 0.2 percent - again matching forecasts and up from the flat reading in the previous month.
New Zealand shares ended lower on worries about the growing impact of the Covid-19 outbreak in the U.S. The benchmark NZX-50 index dropped 55.52 points, or 0.56 percent, to 9.870.56. Kathmandu Holdings shares plummeted almost 28 percent after the retailer raised funds from institutional investors at a steep discount.
U.S. stocks tumbled overnight, with the Dow and the S&P 500 turning their worst first quarter performances ever, after White House officials warned of nearly a quarter million deaths from the pandemic. The three major averages fell around 4.4 percent.
Copyright RTT News/dpa-AFX
© 2020 AFX News
