· China measures, Italian banks lift European shares to record close
European shares hit a record high close on Monday as a rally in Italian banks and fresh attempts by China to limit the economic impact of the coronavirus outbreak lifted investor spirits.
Despite a U.S. holiday dulling market activity, the pan-European STOXX 600 index rose 0.3%, with trade-sensitive German stocks .GDAXI hitting all-time highs as Beijing stepped up stimulus measures.
Meanwhile, euro zone finance ministers will also discuss a document that calls for a more growth-friendly fiscal policy as recession fears grip Germany and the coronavirus outbreak threatens global growth.
· Shares in Asia fell on Tuesday morning, as the new coronavirus outbreak continued to roil companies amid expectations it would cause a slowdown.
Japan’s Nikkei 225 tumbled 0.65% in early trade, after the previous day’s losses. The Topix fell 0.56%. Declines were seen across the tech sector, with Softbank down 2.38%.
In South Korea, the Kospi also slipped 0.75%. Australia’s ASX 200 declined 0.23% in the morning.
Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.17%.
Reference: Reuters, CNBC
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