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Rally in stocks runs out of steam as coronavirus toll climbs


Added 02-06-20 09:03:02pm EST - “A mid-week rally in Asian share markets halted on Friday and oil prices steadied...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Rally in stocks runs out of steam as coronavirus toll climbs”. Below is an excerpt from the article.

SINGAPORE (Reuters) - A mid-week rally in Asian share markets halted on Friday and oil prices steadied as the growing death toll and economic damage from a new virus spreading from China curbed further gains.

The death toll in mainland China rose to 636, more than doubling in just under a week, with the number of infections at 31,161.

One of the first Chinese doctors who raised the alarm about the coronavirus also died from the illness at a Wuhan hospital in the early hours of Friday. He was 34.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.5% on Friday as the lingering anxiety over the virus outbreak tempered the mood, though it is still up 3.2% for the week.

Japan's Nikkei .N225 and Korea's Kospi .KS11 headed lower in morning trade, but are on track for their best week of the year after earlier rises.

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