HONG KONG: Markets across the Asia-Pacific were in the red on Monday (Feb 10) with investors worried about the impact of the China coronavirus outbreak on the global economy. Analysts have cautioned that the economic impact of the coronavirus outbreak in mainland China and beyond is yet to be fully understood. Depressed economic activity in China, the world's largest importer and consumer of oil, has also hit energy markets, with crude prices tumbling. A committee appointed by OPEC recommended additional output cuts on Saturday, citing the negative impact of the epidemic on economic activity. "Asian markets opened much lower and have recovered some of those initial losses," said Jeffrey Halley, senior market analyst for Asia-Pacific at OANDA.

Source: The Star February 10, 2020 09:22 UTC