Stocks in Asia Pacific saw gains on Tuesday as investors continued to weigh the economic impact of the ongoing coronavirus outbreak which has already taken more than 1,000 lives.
Markets in Japan were closed for a holiday.
The Japanese yen traded at 109.91 per U.S. dollar, off levels below 108.6 seen last week.
In Hong Kong, the Hang Seng Index regained 342.54 points, or 1.3%, to 27,583.88, with shares of Chinese tech giant Tencent jumping 2.1%. Shares of automobile firm Geely soared 5.7% after the company announced it was in talks to strengthen ties with Volvo.
Korean markets were solid gainers, with shares of LG Chem surging 6.9%.
Australian markets enjoyed a positive day, as almost all sectors gained. Shares of medical device firm Cochlear, however, tumbled 3.4% after the company reduced its outlook for fiscal year 2020 due to the outbreak’s impact in the Greater China region, one of the main markets for the company.
The Australian dollar changed hands at $0.6708 after touching an earlier low of $0.6679.
CHINA
The CSI 300 gained 36.45 points, or 0.9%, to 3,952.46.
Investors watched for developments on the ongoing coronavirus outbreak in China, where uncertainty remains over when work can resume at factories in China.
In other markets
In Taiwan, the Taiex regrouped 89.97 points, or 0.8%, to 11,664.04
In Korea, the Kospi index restocked 22.05 points, or 1%, to 2,223.12
In Singapore, the Straits Times Index recovered 12.42 points, or 0.4%, to 3,175.57
In New Zealand, the NZX 50 popped 131.95 points, or 1.1%, to 11,834.54
In Australia, the ASX 200 hiked 42.78 points, or 0.6%, to 7,055.31
