Some RM49 billion was wiped off from Bursa Malaysia-listed companies’ market capitalisation between Jan 17 and Feb 3 amid investor anxiety about the Wuhan virus outbreak. Japan’s Nikkei 225 index closed 0.49% higher, South Korea’s Kospi rose 1.84%, Hong Kong’s Hang Seng index climbed 1.23% and the Shanghai Composite index rose 1.34%. The government had previously locked down Wuhan, the capital of Hubei province and epicentre of the virus outbreak, in a bid to stop it from spreading. Elaborating on the near-term outlook for the KLCI, Wan said corporate earnings for 4Q19 will be investors’ main focus. The downside, he said, is the Wuhan virus’ impact being reflected in financial results for 1Q and subsequent quarters of this year.

Source: The Edge Markets February 05, 2020 00:33 UTC