Coronavirus Impact On Asian Stock Markets

Asian stocks fell sharply on Wednesday due to an increase in cases in the coronavirus outbreak.

Coronavirus impact on Asian stock markets. Shares in the Asia Pacific Region fell sharply as the coronavirus outbreak, which increased in Wednesday's transactions, suppressed the economic outlook and investment perception in India. The Indian stock market is closed today for a holiday. In Japan, the decline in the Nikkei 225 and Topix Indices climbed to 2, while the Hong Kong and China stock markets were also painted red. Japan-based automaker Subaru reported that it temporarily suspended production at its facilities in the US due to a semiconductor chip supply problem. According to the report compiled by public broadcaster NHK, after the chip demand for smartphones and 5G network equipment, automakers continue to have a hard time procuring. Subaru announced that it has suspended production at its facilities located in Indiana, USA, due to the problem in the supply of chips used in engine and brake systems. The facility, which suspended production until the end of April, accounts for 40 percent of the company's total production volume both inside and outside Japan. It was learned that Chinese President Xi Jinping will attend the Climate Summit at the invitation of US President Joe Biden. According to the statement made by Chinese Foreign Ministry Spokesperson Hua Chunying, Xi will give a speech by video conferencing at the Climate Summit planned to be held on April 22. As part of the preparation for the summit, John Kerry, the US Special Envoy for Climate, made a 4-day visit to China last week. Australian stock exchange S&P/ASX 200 fell 1.3 percent. Retail sales in the country increased by 1.4 percent in March compared to February.