Most stock exchanges in the Asian region showed significant losses on Wednesday in a troubled trading session. Investors remained concerned about the economic impact of the new corona virus outbreak. Furthermore, more measures were taken by national governments and global central banks to support the economy.
The Nikkei in Tokyo eventually ended 2.3 percent lower at 19,416.06 points. Earlier in the day, the Japanese main index was briefly in the plus after the cautious recovery a day earlier. However, an increase in the Japanese yen, which is seen as a safe haven in uncertain times, led to price pressure on export companies.
Investors also processed the announcement of the Japanese government to convert around 3.6 billion euros extra to deal with the corona virus. The government also has more than 13 billion euros available for financial support to companies. It was also hoped that the Japanese central bank will continue to widen monetary policy next week to support the economy.
The Kospi Seoul lost 3 percent in the meantime and the Australian All Ordinaries in Sydney closed with a loss of 3.6 percent. The Chinese stock markets kept the losses limited. The main index in Shanghai was 0.5 percent in the minus and in Hong Kong the Hang Seng index lost 0.6 percent.