Asian Shares Drop as Virus Fears Grip Markets Again

Asian shares slipped Friday as fears about the virus outbreak once again dominated financial markets. Japan's benchmark Nikkei dived 2.7% to finish at 20,749.75. Australia's S&P/ASX 200 lost 2.8% to 6,216.20. South Korea's Kospi dropped 2.2% to 2,040.22. Hong Kong's Hang Seng declined 2.3% to 26,145.32, while the Shanghai Composite skidded 1.2% to 3,034.51. Shares also dropped in Taiwan and Southeast Asia. Markets have endured roller coaster ups and downs for weeks amid uncertainty over how much damage the outbreak of the new coronavirus will do to the global economy. Vishnu Varathan at Mizuho Bank in Singapore said the potential damage from the new virus was two-fold, with the initial...