The Japanese stock market started Monday with a substantial loss in the last week of January. The fear that the outbreak of the coronavirus in China is more difficult to contain than hoped and the rapidly rising death toll caused a negative mood.
Companies in the tourism sector, in particular, were under pressure from the expectation that people will travel less because of the coronavirus.
At least eighty people have died in China as a result of the coronavirus. The number of infections has risen to more than 2,700. Japan has confirmed the fourth case of coronavirus infection. Viruses have also been found in South Korea, France, Canada, the United States and Thailand.
The main index in Tokyo, the Nikkei 225, eventually ended up 2 percent lower at 23,343.51 points, thereby relinquishing profit since the start of 2020. Oriental Land fell 7.8 percent.
According to business newspaper Nikkei, the operator of the Tokyo Disney Resort will report a profit decreased in the first nine months of his financial year. Japan Airlines lost 3.9 percent. The Japanese makers of protection products and mouth masks were on the rise. Azeroth and Airtech Japan had 23.7 and 17.1 percent
The fairs in Shanghai, Hong Kong and Seoul were closed due to the celebration of the Chinese New Year. Investors also had a day off in Australia. In Hong Kong trading will retake place on Wednesday and in South Korea, the market will open again on Tuesday.
In China, the stock markets remain officially closed until Thursday. However, the Chinese government has extended the holiday period by three days.
Whether this also applies to the stock market trading in Shanghai and Shenzen has not yet been confirmed by the Chinese stock exchange authority.
During the outbreak of the SARS virus in 2003, the Chinese government extended a four-day holiday in May and the stock markets remained closed during that period.