Taiex could plunge after heavy losses in U.S. on virus fears

Focus Taiwan
Date: 02/02/2020
By: Chung Jung-feng and Frances Huang

Taipei, Feb. 2 (CNA) Shares in Taiwan are expected to come under heavy downward pressure Monday after a steep fall in U.S. markets at the end of last week amid rising concerns over the potential economic impact of a coronavirus that has been declared a global emergency.

Chinese stock markets will open for trading Monday after the Lunar New Year holiday and are expected to reflect the recent weakness of global markets caused by coronavirus fears, which could also hurt Taiwan's shares, analysts said Saturday.

On Friday, the Dow Jones Industrial Average dove 603 points, or about 2 percent, the fifth steepest point drop in 12 months, as Apple shares plunged more than 4 percent.

The broader S&P 500 index also closed down 1.8 percent and the tech-heavy Nasdaq was down 1.6 percent.    [FULL  STORY]

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