China stocks recouped most of the morning’s sharp falls seen to end slightly lower, outperforming Asian peers that have broadly tumbled on global selloffs triggered by
heightening anxiety over the coronavirus pandemic. The benchmark Shanghai Composite Index, declining 4.1% upon market open, ticked down 1.2% to 2887.43.
Hong Kong stocks recouped most of their losses to edge lower, in line with other Asian equities which broadly clawed their way back, following a rise in U.S. futures. The Hang Seng Index ended down 1.1% at 24032.91 after diving 7.4% upon opening, but the HSI still ended at its lowest closing level since April 2017.
Japan’s Nikkei Stock Average falls 6.1% at 17431.05, its lowest close since November 2016, on persistent concerns about the coronavirus pandemic. The percentage point drop was the biggest since June 2016. The Nikkei at one point was down 10% but trimmed its losses.
Indian shares ended the session higher, reversing steep intraday declines, following a rebound in Asian markets this afternoon that was driven by the momentum in U.S. stock futures. The benchmark Sensex rose 4.0% to close at 34103.48, after falling up to 10% during the day.
South Korean stocks sank to a near eight-year closing low on continuing fears over the coronavirus pandemic. The benchmark Kospi index closed 3.4% lower at 1771.44–its lowest closing level since July 2012, but trimmed earlier losses after U.S. equity futures rose. The Kospi dropped over 8.0% earlier in the session, triggering a 20-minute trading halt.