2/4, 3:57 AM (Source: TeleTrader)
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Asian stocks rise despite spreading coronavirus

Equities on Asian markets traded higher on Tuesday in spite of the fact that coronavirus is spreading. Hong Kong reported its first death from the virus, that brings the death toll to 426.

On the other hand, a spokesperson from the US Trade Representative's office said earlier that China did not formally ask the United States to revise its purchase commitments from the phase one trade deal as a result of the coronavirus outbreak. However, he said China is allowed to ask for a revision as the deal stipulates that it can ask for assistance in case of an "unforeseen event."

Chinese markets went up on Tuesday with the Shanghai Composite growing 0.59% at 3:53 am CET, while the Shenzhen Composite went up by 1.41% at the same time. The Hang Seng rose 0.81% at 3:54 am CET.

Meanwhile, the Nikkei 225 increased by 0.10% at 3:54 am CET and the Kospi in Seoul jumped 1.47% at 3:55 am CET. The S&P/ASX 200 in Australia went up 0.45% at the same time.

The dollar stood flat against yen selling for 108.6635 at 3:56 am CET.

Breaking the News / TF