^N225 - Nikkei 225
| Previous Close | 22,605.41 |
| Open | 22,374.14 |
| Volume | 0 |
| Day's Range | 22,127.42 - 22,454.61 |
| 52 Week Range | 20,110.76 - 24,115.95 |
| Avg. Volume | 60,110 |
- MarketWatch
Asian markets continue to pull back fears of growing global outbreak
Asian markets fell in early trading Wednesday following another sharp selloff on Wall Street as the global spread of the coronavirus outbreak continued to rattle traders.
- Bloomberg
Asian Stocks Decline; U.S. Rises After Deep Rout: Markets Wrap
(Bloomberg) -- Stocks in Asia fell in heavy trading Wednesday after another epic rout on Wall Street, while U.S. equity futures rose and the yen dipped, taking back some of their strong recent moves.The won fell toward its weakest since 2016 after South Korea reported a further escalation in coronavirus cases. Stock benchmarks came off their session lows in Seoul, Hong Kong and Tokyo. The Shanghai stock index edged up. The S&P 500 Index fell 3% overnight, in its worst two-day slide since 2015. Ten-year Treasury yields held near Tuesday’s record low. The offshore yuan was flat, and the yen gave up some recent gains.South Korea, Asia’s fourth-largest economy, said its national total for coronavirus cases is now more than 1,000, up from just 51 a week ago. American health officials on Tuesday warned that they expect the epidemic to spread in the U.S., news that extended the sell-off in stocks.The virus and the market reaction has also entered U.S. politics. President Donald Trump tweeted “Stock Market starting to look very good to me!” after the close on Monday. Democratic presidential candidate Elizabeth Warren by contrast said the plunge in stocks is only the “tip of the iceberg” of a growing economic threat from the coronavirus.Meantime, traders are monitoring for any signs of policy accommodation as the global economy absorbs the blow of virus-linked shutdowns. U.S. central bankers are closely monitoring the spreading virus, but it is “still too soon” to say whether it will result in a material change to the outlook, Federal Reserve Vice Chairman Richard Clarida said Tuesday. Traders nevertheless are betting on further easing.“The ultimate impact remains entirely unknown at this stage,” said Eleanor Creagh, a Sydney-based strategist at Saxo Capital Markets. “And uncertainty is the enemy of conviction.”Elsewhere, crude oil remained around $50 a barrel after slumping for two straight sessions.These are some key events coming up:Earnings keep rolling in from companies including: Peugeot SA on Wednesday; Baidu Inc., Best Buy Co. Inc., Occidental Petroleum Corp. and Dell Technologies Inc. on Thursday; and London Stock Exchange Group Plc on Friday.The Bank of Korea announces its policy decision on Thursday, with rising risks of an interest-rate cut.U.S. jobless claims, GDP and durable goods data are out Thursday.Japan industrial production, jobs, and retail sales figures are due on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index added 0.7% as of 12:42 a.m. in Tokyo. The gauge fell 3% on Tuesday.Japan’s Topix index retreated 0.8%, after paring an intraday loss of 1.9%.Hong Kong’s Hang Seng lost 0.6%.The Shanghai Composite rose 0.3%.Australia’s S&P/ASX 200 IndexSouth Korea’s Kospi index retreated 2.2%.Euro Stoxx 50 futures declined 0.4%.CurrenciesThe yen was down 0.3% at 110.52 per dollar.The offshore yuan was little changed at 7.0291 per dollar.The euro dropped 0.2% to $1.0866.BondsThe yield on 10-year Treasuries ticked up two basis points to 1.37%.Australia’s 10-year yield was flat at 0.93%.CommoditiesWest Texas Intermediate crude oil added 0.8% to $50.30 a barrel.Gold rose 0.3% to $1,639.57 an ounce.\--With assistance from Elizabeth Stanton.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Panasonic poised to withdraw from solar cell production at Tesla's NY plant - sources
TOKYO/LOS ANGELES (Reuters) - Japan's Panasonic Corp is considering pulling out of solar cell production at Tesla Inc's plant in New York, said people with direct knowledge of the matter, raising uncertainty over the U.S. firm's struggling solar business. Panasonic will retain its automotive battery joint venture with the U.S. electric vehicle maker in the U.S. state of Nevada, which just reported its first quarterly profit after years of production troubles and delays, one of the people said. Panasonic declined to comment.
- Reuters
Panasonic poised to withdraw from solar cell production at Tesla's NY plant: sources
TOKYO/LOS ANGELES (Reuters) - Japan's Panasonic Corp is considering pulling out of solar cell production at Tesla Inc's plant in New York, said people with direct knowledge of the matter, raising uncertainty over the U.S. firm's struggling solar business. Panasonic will retain its automotive battery joint venture with the U.S. electric vehicle maker in the U.S. state of Nevada, which just reported its first quarterly profit after years of production troubles and delays, one of the people said. Panasonic declined to comment.
- Reuters
Global Markets: Asian shares slump, bonds rally as virus fears grow
Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. Japan was among the worst-performing market in the region, weighed by growing concerns the virus could cancel the Tokyo Olympics. Yields on 10-year and 30-year U.S. Treasuries teetered near record lows and gold rose as worries about the economic impact of the virus outbreak boosted safe-haven assets.
- Reuters
Asian shares slump, bonds rally as virus fears grow
Asian shares fell on Wednesday as a U.S. warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. Japan was among the worst-performing market in the region, weighed by growing concerns the virus could cancel the Tokyo Olympics. Yields on 10-year and 30-year U.S. Treasuries teetered near record lows and gold rose as worries about the economic impact of the virus outbreak boosted safe-haven assets.
- Reuters
Stocks, oil fall further on accelerating coronavirus concerns
Stocks across the globe fell on Tuesday to their lowest since early December and the benchmark U.S. debt yield hit a record low on concerns about the economic hit of the spread of the novel coronavirus. The market selloff accelerated after the U.S. Centers for Disease Control and Prevention said Americans should begin to prepare for community spread of the new coronavirus. The flu-like virus has now infected more than 80,000 people, 10 times more cases than the SARS coronavirus.
- MarketWatch
The S&P 500 has to hold this level or risk a 10% correction, warns strategist
Investors tempted to buy Monday’s brutal stock selloff need to bear this one big level in mind, says our call of the day.
- FX Empire
Asian Markets Stabilize but Move Seen as Temporary Rather Than Structural
With the outbreak spreading to South Korea, technology companies are now facing new challenges due to the country’s importance in the global technology and semiconductor supply chains.
- TheStreet.com
Dow Futures Higher After Monday's Trillion Dollar Wipeout As Coronavirus Concerns Linger
Wall Street looks to claw back some of the $1 trillion in market value it lost yesterday amid the biggest sell-off in more than two years, even as coronavirus concerns continue to cloud global markets.
- MarketWatch
Asian markets extend losses as outbreak’s ripple effects spread
Shares were mostly lower in Asia on Tuesday after Wall Street suffered its worst session in two years, with the Dow Jones Industrial Average slumping more than 1,000 points on fears that a viral outbreak that began in China will weaken the world economy.
- Reuters
Europe suffers worst day since 2016 as virus spreads
Europe's share markets suffered their biggest slump since mid- 2016 on Monday, as a jump in coronavirus cases in Italy, South Korea, Japan and Iran sent investors scrambling to the security of gold and government bonds. Milan's stock market plunged over 4.5% after a spike in cases of the virus left parts of Italy's industrial north in virtual lockdown.
- Financial Times
Tesla electronics ‘years ahead’ of Toyota and VW
Toyota Motor and Volkswagen each sell 10m cars, give or take, every year. Tesla delivered about 367,500 in 2019. This is the takeaway from Nikkei Business Publications’ teardown of the Model 3, the most affordable car in the US carmaker’s all-electric line-up, starting at about $33,000.
- Bloomberg
Stocks Post Weekly Decline Amid Hunt for Safety: Markets Wrap
(Bloomberg) -- U.S. stocks sank, gold surged and Treasury yields tumbled as investors took a defensive stance amid renewed concern about the economic impact of the coronavirus as it spreads outside of China.Tech companies were particularly hard hit, sending the Nasdaq 100 down almost 2%. The S&P 500 Index posted its first weekly decline since January. The yield on 30-year Treasuries fell to a record low amid data showing U.S. business activity shrank for the first time since 2013 as the virus hit supply chains.Investors were put on alert this week by a spike in infections outside China and a slew of fresh warnings by companies over the potential impact the deadly respiratory virus may have on business. The growing concerns reignited appetite for assets seen as havens from the turmoil and reversed stock gains that had sent the S&P 500 Index to a record high Wednesday.“Investors have suddenly got cold feet and are running for the exits,” said Chris Rupkey, chief financial economist for MUFG Union Bank. “Bond yields and stock prices are back in sync today as the plunging markets mean the economic outlook is not looking as good this year as many thought.”The Stoxx Europe 600 Index slumped, with automakers among the worst performers, after equities in Korea and Hong Kong dropped more than 1%. Crude oil fell after hitting the highest in almost four weeks.Elsewhere, the yen strengthened, recouping some if its biggest two-day decline since 2017. The dollar slumped after a four-day winning streak. The euro strengthened after data showed economic activity in the common-currency area sped up unexpectedly.Here are some key events coming up:Group of 20 finance ministers and central bank chiefs are due to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.These are the main moves in markets:StocksThe S&P 500 Index dropped 1.1% at the close of trading in New York, leaving it down 1.3% this week.The Nasdaq 100 fell 1.9% Friday and 1.8% for the week.The Stoxx Europe 600 Index fell 0.5%.The MSCI Asia Pacific Index fell 0.5%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.3%.The euro rose 0.6% to $1.0848.The British pound advanced 0.6% to $1.296.The Japanese yen strengthened 0.5% to 111.59 per dollar.BondsThe yield on 10-year Treasuries declined five basis points to 1.47%.The yield on 30-year Treasuries fell five basis points to 1.91%Germany’s 10-year yield rose one basis point to -0.43%.Britain’s 10-year yield was little changed at 0.57%.CommoditiesWest Texas Intermediate crude sank 0.8% to $53.34 a barrel.Gold strengthened 1.5% to $1,644.38 an ounce.\--With assistance from Michael G. Wilson, Robert Brand, Constantine Courcoulas and Todd White.To contact the reporter on this story: Vildana Hajric in New York at vhajric1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Brendan WalshFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- FX Empire
Some Asian Countries on Brink of Recession as Virus Spreads Outside China
Japan and Singapore are on the brink of recession and South Korea on Friday said its exports to China slumped in the first 20 days of February as the outbreak upends global supply chains.
- Bloomberg
Asian Traders Bracing for Further Volatility as Virus Spreads
(Bloomberg) -- A tentative recovery in Asian risk assets came to an abrupt end this week as the coronavirus spread outside China, and option markets suggest traders are bracing for more downside ahead.Expected price swings in Korean stocks and the won jumped to five-month highs as new cases surged in the country. The yen slumped to its weakest in 10-months against the dollar, yet Japan’s currency-sensitive stocks finished the week lower.“The sudden jump in infections in other parts of Asia, notably in Japan and South Korea, has sparked renewed concerns,” said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd. in Singapore. “This points to a new phase in the outbreak, and one which will see continued disruption and more economic impact than previously thought.”The rapid shift in sentiment marks a change from earlier in the month when investors adopted a buy-the-dip mentality as the pace of new cases declined in China. The MSCI Asia Pacific Index erased about half its virus-related losses from late January in the first two weeks of February.Now stocks are falling again as infections multiply outside of China and worries are growing the outbreak is entering a concerning next phase. Traders are bracing for more downside and measures of expected price swings are pushing higher.The Kospi 200 Volatility Index rose as much as 9% Friday to its highest since August, as South Korea reported more coronavirus cases that brought its total past 200. Japanese stocks closed mostly lower, erasing an early advance on yen weakness, and the Nikkei Stock Average Volatility Index hit its highest in more than two weeks.It doesn’t help that the concerns are mounting on a Friday, ahead of markets being shut for the weekend -- a situation that often makes traders nervous holding open positions because of the chance for potentially negative news to come out. Japan’s markets are also shut on Monday.“We have seen weekly seasonality recently where people look to cover risk ahead of the weekend to be prudent,” said Damien Loh, chief investment officer at Ensemble Capital Pte in Singapore. “I think this is partly the case.”Meanwhile, in the heart of the outbreak, Chinese stocks saw modest gains as the number of new infections continued to slow. But it’s still the elephant in the room.“Given the situation we are in, volatility is to be expected until we understand the impact on the Chinese economy when numbers come out next month,” said Justin Tang, head of Asian research at United First Partners in Singapore. “The light at the end of the tunnel is that workers are returning back to their posts.”\--With assistance from Cormac Mullen, Lilian Karunungan and Chester Yung.To contact the reporters on this story: Joanna Ossinger in Singapore at jossinger@bloomberg.net;Ishika Mookerjee in Singapore at imookerjee@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, ;Tan Hwee Ann at hatan@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Japan to limit foreign ownership in 12 sectors - sources
Japan is finalising a plan that will tighten scrutiny of foreign investment in 12 key sectors, four government sources with knowledge of the matter told Reuters. The industries would include sectors like defence, nuclear power, aerospace, utilities, gas, cyber security and telecommunications, two of the sources said, confirming a report by the Nikkei newspaper. Under the plan, foreign investors purchasing a stake of 1% or more in certain Japanese companies will be subject to pre-screening, as against 10% now.
- MarketWatch
Asian markets retreat amid worries of coronavirus’ spread outside China
Asian stock markets followed Wall Street lower Friday after a spike in new virus cases in South Korea refueled investor anxiety about China’s disease outbreak.
- Benzinga
Global Stocks Mixed As China Takes More Economic Measures To Tackle Coronavirus Outbreak
The People's Bank of China cut the benchmark on-year loan prime rate by 10 points to 4.05% in line with market expectations, CNBC reported. The move saw the stock markets surge in mainland China. Shanghai Composite index traded 1.84% higher at 3,030.15 and Shenzhen Component was up 2.43% at 11,509.09.
- MarketWatch
Asian markets mixed after China cuts loan prime rate
Asian markets were mixed in early trading Thursday after China’s central bank cut its loan prime rate, as expected.
