Asia stocks decline as coronavirus death toll in China continues to rise; Fed keeps rates on hold [CNBC]
HON HAI PRECSON S/GDR NEW (HNHPF)
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Source: CNBC
Stocks in Asia slipped in Thursday morning trade as the U.S. Federal Reserve kept interest rates on hold and investors continued to watch for developments on the ongoing coronavirus outbreak. Hong Kong's Hang Seng index slipped 0.48% in early trade. In Taiwan, where markets returned to trade from the holidays, the Taiex plunged 3.73% as shares of manufacturing giant and major Apple supplier Hon Hai Precision Industry , also known as Foxconn, dropped more than 8%. Elsewhere, the Nikkei 225 in Japan slipped 0.86% while the Topix index declined 0.74%. In South Korea, the Kospi was 0.41% lower. Shares of Samsung Electronics fell more than 1% after the industry heavyweight posted a fourth quarter operating profit drop of about 34% as compared to the same period a year ago. Meanwhile, stocks in Australia fell into negative territory as the S&P/ASX 200 saw a fractional decline. Overall, the MSCI Asia ex-Japan index traded 0.64% lower. Markets in China remain closed on Thursday for a holiday.
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