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Asian stocks mixed after Wall St slides and China travel restrictions | national news




By JOE McDONALD Business Writer AP

BEIJING (AP) Asian stock markets were mixed on Monday after the fall of Wall Street and China’s tightening of travel controls in some areas in response to coronavirus infections.

Shanghai, Hong Kong and Sydney advanced while Tokyo retreated.

The Wall Streets S&P 500 Index fell 0.1% on Friday, weighed down by losses at tech companies after a seven-day streak of gains.

In China, northwestern Gansu province closed tourist sites on Monday after coronavirus cases were discovered and the capital, Beijing, has banned visitors from infected areas in the past 14 days. China has only reported a few dozen cases, but Beijing’s response to travel restrictions has raised concerns that they may weigh on already weakening economic activity.

Aggressive measures can be expected to control the spread of viruses, which could limit growth, IG’s Yeap Jun Rong said in a report.

The Shanghai Composite Index rose 0.3% to 3,594.32 while the Nikkei 225 in Tokyo lost 1% to 28,520.35. The Hang Seng in Hong Kong added 0.1% to 26,157.11.

Seoul’s Kospi rose 0.2% to 3,013.13 and Sydney’s S & P-ASX 200 gained 0.4% to 7,444.00.

New Zealand, Singapore and Jakarta fell.

On Wall Street, the S&P 500 closed at 4,544.90 Friday after losses for large tech companies after a choppy trading day.




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