US stock futures flounder amid tech weakness, Fed caution
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Too early to declare China virus a global health emergency
* China, other Asian markets entering Lunar New Year holiday
* ECB leaves policy unchanged, euro hits 7-week low
By Tomo Uetake
TOKYO, Jan 24 (Reuters) - Stocks made a barely positive
start in early Asian trade on Friday after the world's health
body called it a little too early to declare a coronavirus
outbreak a global emergency.
But worries over rapid spread of the deadly virus kept
investors on guard as millions of Chinese travel during the
Lunar New Year holiday period.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS rose a marginal 0.1%, while Japan's Nikkei
.N225 stood flat and Australian stocks .AXJO added 0.4%.
Trade in Asia is already slowing down for the Lunar New Year
holiday, with financial markets in China, Taiwan and South Korea
closed on Friday.
Key indices on Wall Street bounced from lows after the World
Health Organisation (WHO) said the latest coronavirus did not
yet constitute a global public health emergency. The Nasdaq Composite .IXIC rose 0.2% to a record closing
high, while the S&P 500 .SPX added 0.1% and the Dow Jones
Industrial Average .DJI eased 0.1%.
The WHO called a new coronavirus that has killed 18 people
in China and infected around 650 globally "an emergency in
China" on Thursday, but stopped short of declaring the epidemic
of international concern. "Investors are worried that the outbreak of coronavirus will
dampen consumption in China when the Chinese economy has been
already cooling down," said Yasuo Sakuma, chief investment
officer at Libra Investments.
In the currency market, the concerns about the virus
supported the yen.
The Japanese currency traded at 109.53 yen per dollar
JPY= , having risen to a two-week high of 109.26 on Thursday.
The euro EUR= fell to a seven-week low versus the dollar
of $1.1036 overnight after the European Central Bank left its
policy rates unchanged but President Christine Lagarde struck a
slightly dovish tone than some had expected.
Coronavirus fears continued to weigh on commodity prices.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were
up a marginal 0.05% at $55.61 a barrel, after hitting $54.77 in
the previous session, the lowest level since Nov. 20.
WHO says 'bit too early' to declare coronavirus a global
emergency is an emergency in China' says WHO, as virus death toll
rises to 18 Lagarde launches policy overhaul that will leave no stone
unturned bond yields plummet on cautious Lagarde tone, virus fears
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