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Updated March 19th, 2020 at 12:33 IST

Asian shares resume decline after US tumble

Shares in Asia failed to hold onto opening gains on Thursday, skidding further after the latest selloff on Wall Street.

Asian shares resume decline after US tumble
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Shares in Asia failed to hold onto opening gains on Thursday, skidding further after the latest selloff on Wall Street.

Stocks fell in Tokyo, Sydney, Hong Kong and Seoul in early trading Thursday. Investors are in search of cash as fears of a prolonged coronavirus-induced recession take hold.

Japan's Nikkei 225 index gave up 0.7% to 16,5602.26, while in South Korea, the Kospi sank 6.5% to 1,487.85.

The benchmark Korea Composite Stock Price Index fell to 1,524.38 within the first few hours of the opening, which was 66.82 points (4.20 percent) lower than previous day's close

Taiwan stock market plunged over 500 points marking a 6% decline after opening.

The market fell sharply in a reaction to U.S. stocks plunge over rising fears of the coronavirus pandemic.

As of 11:22 am in Taipei, Taiwan's main stock index dropped 560.22 points or 6.08 % to 8658.45.

 

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Published March 19th, 2020 at 12:33 IST

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