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Coronavirus worry continued to reverberate...>

STOCKS
STOCKS: Coronavirus worry continued to reverberate around the Asia-Pac time
zone, with Taiwan (China linkages/tech sector dependence) feeling the brunt of
the pressure as its markets re-opened after the Lunar New Year. The TAIEX last
trades 5.0% lower on the day, even after 4 major domestic government investment
funds pledged to support the stock market, in the face of the impact of
Coronavirus (on Wednesday). Elsewhere, Thursday saw the country's deputy FinMin
stress that there is no need for the national stabilisation fund to enter the
stock market at present.
- Facebook's poor aftermarket performance in lieu of its latest earnings report,
and Fed Chair Powell pointing to "somewhat elevated" asset valuation levels,
provided headwinds for U.S. equities after hours, which ultimately continued
alongside the regional sell-off, after a modest uptick at the electronic
re-open.
- Nikkei 225 -1.9%, Hang Seng -1.7%, ASX 200 -0.5%.
- S&P 500 futures -20, DJIA futures -171, NASDAQ 100 futures -44.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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