Asia opens mostly higher in tandem with Wall Street

Economies.com
2020-01-29 03:32AM UTC

Asian stock indices opened the third session of the week mixed but mostly higher, with Japan, Australia, New Zealand, and South Korea higher, while Hong Kong's stock tumbled 3%. 

 

Chinese markets are still closed, while Chinese president Xi Jinping met with World Health Organization officials this week to discuss how to contain the cornavirus and prevent it from becoming a global epidemic.  

 

So far nearly 6000 people were infected, and 132 were dead as global incident continue to pop up. 

 

The virus has cost global stocks nearly $1.5 trillion since January 20, underlying precious metals overall. 

 

Moving to the US, the Federal Reserve is wrapping up its January policy meeting, expected to maintain rates at below 1.75%. 

 

President Donald Trump renewed his requests for the Fed to cut rates to maintain US competitiveness  in exports with other countries. 

 

Earlier Australian data showed consumer prices up 0.4% as expected, while core prices rose 1.6%. 

 

Japan's TOPEX rose 0.19%, while Nikkei 225 added 0.51% to 23,333. 

 

Hong Kong's Hang Seng slumped 2.61% to 27,219.55, while South Korea's KOSPI climbed 0.53% to 2,188. 

 

New Zealand's NZX 50 rose 0.28%, while Australia's S&P/ASX 200 climbed 0.56%. 

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