Asian shares mostly rise while virus fears continue

AKIPRESS.COM - Asian shares mostly rose Wednesday, despite overnight losses on Wall Street and continuing fears about an outbreak of a new virus that began in China, AP News reported. The Nikkei 225 rose 1.0% in afternoon trading to 23,415.30. Australia's S&P/ASX 200 added 0.4% to 7,144.60. South Korea's Kospi declined 0.2% to 2,204.66. Hong Kong's Hang Seng added 0.4% to 27,635.93, while the Shanghai Composite edged up 0.1% to 2,986.34.
Adding to optimism, new virus cases in China have been falling, with 1,749 new infections and 136 new deaths announced on Wednesday. But data are showing disruptions to manufacturing, retailing and tourism.
"Collapse in demand due to COVID-19 remains the key worry for the markets across the globe as the disease continues its spread," said Prakash Sakpal, economist for Asia at ING.