Asian markets slip as global coronavirus cases continue to rise

Japan’s Nikkei 225 is worst hit as it has plunged over 1%, followed by Hong Kong’s Hang Seng and China’s Shanghai Composite.

Jun 29, 2020 10:06 IST India Infoline News Service

Asian stock market
Asian markets were trading in the negative territory after a sharp fall registered on Wall Street in the last trading session of the week. The market participants continued to monitor developments surrounding the global coronavirus pandemic amid concerns that a surge in cases could impact the reopening of economies.

Japan’s Nikkei 225 is worst hit as it has plunged over 1%, followed by Hong Kong’s Hang Seng and China’s Shanghai Composite.

As per media reports, concern has deepened as the number of confirmed cases topped 10 million, with more than 500,000 reported dead from COVID-19, according to a tally by Johns Hopkins University that is believed to understate the problem due to issues with testing and a large number of asymptomatic cases.

On Friday, the S&P 500 fell 74.71 points to 3,009.05, the Dow Jones Industrial Average had its worst day in two weeks, losing 2.8% to 25,015.55. The Nasdaq which hit an all-time high earlier this week, dropped 2.6% to 9,757.22.

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