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2/26, 8:01 AM (Source: TeleTrader)
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Asian markets drop as COVID-19 crisis continues

Stocks in the Asia-Pacific region traded lower on Wednesday as the global crisis caused by the coronavirus continued. Japanese Prime Minister Shinzo Abe asked the organizers of sport and cultural events in the country to consider delaying or canceling them, adding that stopping the infection from spreading is the highest priority at the moment. In business news, Australian mining corporation Rio Tinto reported that its underlying EBITDA increased by 17% year-on-year, with underlying earnings per share growth of 24%.

In China, the Shenzhen Composite sank 2.84%, while the Shanghai Composite lost 1.01% at 7:44 am CET. In Hong Kong, the Hang Seng retreated 0.88% at 7:59 am CET. Australia's S&P/ASX 200 plunged 2.31% at the closing bell. Tokyo's Nikkei 225 closed 0.79% lower, while South Korea's Kospi dropped 1.28% at the finish.

The dollar traded 0.27% higher against the yen, going for ¥110.3975 at 7:55 am CET.

Breaking the News / ND