Asian stocks slide as coronavirus fears spook markets : Nikkei 225 closes lower by 2.03% at 23,343.51

Asian stocks slide as coronavirus fears spook markets

Nikkei 27-01

There’s still a high degree of uncertainty involving the new coronavirus outbreak situation and that is keeping markets very nervous to kick start the week.

Chinese markets may be closed but A50 futures are taking a beating – even down by over 5% earlier – as risk aversion continues to flow throughout markets.
US 10-year yields are down to their lowest level since October, 4.8 bps lower on the day at 1.635% as we look towards European trading. Meanwhile, the likes of the yen and gold are bid as safety flows are the name of the game to start the day.
USD/JPY sits at 109.05 currently while commodity currencies such as the aussie and kiwi are also being weighed lower, alongside the offshore Chinese yuan.