Asia shares fall as WHO says China virus a global emergency

Shares were mostly lower in Asia on Friday after the World Health Organization declared the outbreak of a new virus that has spread from China to more than a dozen countries a global emergency.

Markets in mainland China remained closed as the U.S. warned against all travel to China following the WHO's announcement.

Japan's Nikkei 225 index rose 1% to 23,205.18, while the S&P ASX/200 edged 0.1% higher to 7,017.20. Hong Kong's Hang Seng fell 0.2%, to 26,392.85 and the Sensex in India gave up 0.2% to 40,817.61. Taiwan's benchmark picked up 0.6%, while South Korea's Kospi skidded 1.4% to 2,119.01. Shares also fell in Jakarta and Kuala Lumpur.

A monthly survey of manufacturers in China showed factory activity weakened, but it did not reflect the latest developments from the virus outbreak.

A late wave of buying left major U.S. stock indexes with modest gains on Wall Street after they spent most of the day in the red. Technology companies and banks fared best.

China reported 9,692 confirmed cases of the virus on Friday with a death toll of 213, including 43 new fatalities.

Investors worry that the outbreak could end up dampening global economic growth. But those concerns appeared to ease by late afternoon, after the director general of the World Health Organization said that the organization was not recommending limiting travel or trade to China.

The impact of the WHO's decision to designate the new coronavirus a global public health emergency was offset by its recommendation not to restrict travel. But the U.S. countered that with its own advisory warning against all travel to China, and advice to Americans inside China to leave if possible.

Added to that was “the barrage of airlines cancelling flights and the resulting slowdown in economic activity that would bring...