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Asian Markets low on fears of Coronavirus

The stock markets in Asia had seen a tumble on Tuesday as there were concerns about the impact of the disease in China which has broken out.

The central bank of Japan has left the rate of interest majorly unchanged and revised their outlook of economic growth upwards.

The index of market in Tokyo, Hong Kong, Shanghai as well as Sydney had retreated after the government had made an announcement of a fourth victim which had fallen due to the coronavirus. This outbreak had been centered in and around the Chinese city of Wuhan and has sickened over 200 people.

The authorities have said that a few of the infections had been transmitted from one person to another and this disease may spread faster in the holiday of the Lunar New Year, which is the biggest season for travel in the Chinese world. This had prompted the airlines and hotel operators to sell their shares as well as other companies which are travel related too.

The other governments in Asia had stepped their screening up for the travelers from China and that is highlighting the impact it is having on the revenue coming from tourism.

This outbreak has been developing into a potentially major risk for the region of Asia Pacific feel the experts.

This outbreak and the measures for stopping it may affect the retailing, tourism, air travel, restaurants and a few more industries as per the experts who had pointed out to the outbreak of SARS in the year 2003 whose impact had been felt far and away to nations like Australia and Canada.

All the major stock markets had been down all around the Asia Pacific region.

John Wilson
Author Details
EDITOR-IN-CHIEF At Chemical News Reports

John Wilson is present in the Business sphere from the last 6 years. His MBA in Finance Degree has always helped him to understand the complex activities and hold a strong grasp of the Business world. While John is one of the major authorities at Chemical News Reports, he serves as the Head of the Business Department at our news portal from the last 4 Years. Moreover, his promising decision-making abilities have helped the organization to make and execute all major decisions of the Business Department efficiently. Moreover, as a part of his regular work, he is involved in the quality checks of all news pieces.

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