Asian stock markets fallpublished at 08:08 Greenwich Mean Time 6 March 2020
Asian stock markets have fallen again amid fears that the coronavirus may cause a global economic slump.
Shares on the Nikkei index in Japan closed down 2.72%. Investors were disappointed that the Bank of Japan didn’t intervene to support the market. Meanwhile, Hong Kong's Hang Seng is down 2.3% in afternoon trading.
The coronavirus will hit the economies of developing Asian economies hard, the Asian Development Bank (ADB) has said. There will be sharp declines in areas including tourism and business travel as well as supply disruptions, it said.
It is as yet not clear how serious the economic loss could be due to uncertainty surrounding how the outbreak with develop. The range of scenarios explored in the analysis suggests a global impact in the range of $77 billion (£59 billion) to $347 billion, or 0.1% to 0.4% of global gross domestic product (GDP).