Equity markets in Australia, Japan and South Korea, trimmed their losses at the close today after a rout in the morning, triggered by concerns over the widespread economic damage from the coronavirusAustralian shares turned around after a frantic selling session earlier. For most of the day, investors were panic selling, which drove the benchmark index sharply lower by 8.1 percent). The index close down by 6.08 percent or 1,128.58 points, at 17,431.05, while the broader Topix fell 4.98 percent or 66.18 points, to 1,261.70. The benchmark Korea Composite Stock Price (KOSPI) Index surrendered 62.89 points, or 3.43 percent, to close at 1,771.44. The tech-heavy Kosdaq market also erased earlier losses, ending 7 percent lower at 524.00 points after falling by almost 13 percent.

Source: The Standard March 13, 2020 07:50 UTC