Tuesday, 02 June 2020
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Asian shares, bond yields fall as deadly coronavirus spreads

Asian shares slipped again on Tuesday as China took more drastic steps to combat the coronavirus, while bond yields fell globally on expectations central banks would need to keep stimulus flowing to offset the likely economic drag.

As the death toll reached 81 and the virus spread to more than 10 countries, including France, Japan and the United States, some health experts questioned whether China can contain the epidemic.

Beijing has already extended the Lunar New Year holiday to Feb. 2 nationally, and to Feb. 9 for Shanghai. On Tuesday, the country™s largest steelmaking city in northern Hebei province, Tangshan, suspended all public transit in an effort to prevent the spread of the virus.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.4% lower in early Asian trading on Tuesday. Australian shares stumbled nearly 1%.

Source : Reuters

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