Asian markets fall on fears over economic impact of virus
Hong Kong: Asian markets fell on Thursday with investors concerned about the economic impact from the spread of the new coronavirus as China reported more than 1,700 new infections.
Airlines around the world are either suspending or paring back services in and out of China following cases of human-to-human transmission outside the country and manufacturers have also been cutting their Chinese operations.
The World Health Organisation, which initially downplayed the severity of the disease, warned all governments to be "on alert" as it weighs whether to declare a global health emergency.
US Federal Reserve Chairman Jerome Powell said the coronavirus posed a new risk to growth in China and elsewhere. In Asian stock markets, Hong Kong was down 1.4 per cent and Tokyo dropped 1.6 per cent.
Japanese automaker Toyota said it would keep its plants in China closed until at least February 9 over concerns about the outbreak of the SARS-like virus which has killed 170 people and infected more than 7,700.
Taipei fell 4.9 per cent, with shares in Apple supplier Hon Hai Precision Industry plunging more than nine per cent after it said most of its manufacturing plants in China would remain closed until February 10.
The tech giant, better known as Foxconn, is the world's biggest contract electronics maker and assembles Apple's iPhones as well as gadgets for other international brands.
The move will likely impact global supply chains for tech companies that rely on the Taiwan firm to manufacture everything from iPhones to flat-screen TVs and laptops.
Foxconn, which employs more than one million workers in China, accounts for the most US-bound exports by volume from Hubei province which is at the epicentre of the virus outbreak.
Among other markets, Seoul slipped 1.3 per cent and Sydney was down 0.5 per cent.
"Equity markets remain acutely vulnerable to adverse developments in the Wuhan virus situation," said OANDA analyst Jeffrey Halley. The Fed held its policy interest rate steady on Wednesday but was on alert for possible contagion to the domestic and global economies.
"There will clearly be implications at least in the near term for Chinese output and I would guess for some of their close neighbours," Powell told reporters following the Fed's policy meeting.
However, "the situation is really in its early stages and it's very uncertain about how far it will spread and what the macro-economic effects will be," he said. "We are very carefully monitoring the situation."
Oil fell following a higher-than-expected jump in US inventory, with the Brent and WTI contracts both down one per cent.
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Devine’s all-round brilliance trumps Nandini’s hat-trick as GG edge DC by 4 runs
Navi Mumbai (PTI): Nandini Sharma’s maiden hat-trick went in vain as Sophie Devine starred with a breathtaking 95 and a superb final over under pressure to steer Gujarat Giants to a thrilling four-run win off the last ball over Delhi Capitals in a Women’s Premier League match here on Sunday.
This was Gujarat Giants' second win on the trot, while DC slipped to their second loss.
Sent in to bat, Giants opener Devine smashed seven fours and eight sixes in her 42-ball knock, adding 94 runs for the opening wicket with Beth Mooney (19) to set the platform.
Skipper Ashleigh Gardner kept the momentum going with a brisk 49 off 26 balls, but Nandini turned the tide with remarkable figures of 5 for 33, including a hat-trick, as Gujarat were bowled out for 209.
Chasing a stiff target, opener Lizelle Lee struck a scintillating 86 off 54 balls, studded with 12 fours and three sixes. She put on 41 runs with Shafali Verma (14) before adding 90 off 55 balls with Laura Wolvaardt (77 off 38) to keep Delhi firmly in the hunt.
Once Lee was dismissed by Kashvee Gautam (1/48) in the 15th over, Rajeshwari Gayakwad removed Chinelle Henry (7) to leave Delhi at 146 for three.
Needing 64 off the last 25 balls, skipper Jemimah Rodrigues (15) joined Wolvaardt as the pair plundered 58 runs in 23 balls to bring the equation down to seven off the final five deliveries.
Devine then returned to the spotlight, dismissing both batters and conceding just two runs in the final over to seal a dramatic win.
Earlier, Devine set the tone early, striking three fours off Chinelle Henry before taking Nandini apart with two fours and a six in the fourth over. She was particularly severe on Sneh Rana, hammering two fours and four successive sixes in an over that yielded 32 runs and powered Gujarat Giants to 80 without loss in the powerplay.
The New Zealander brought up her half-century in just 25 balls before Shree Charani broke the opening stand with a sharp caught-and-bowled effort in the ninth over to remove Mooney. Devine briefly regained control, hitting Charani for three sixes, but fell in the 11th over bowled by Nandini Sharma.
Skipper Ashleigh Gardner kept Gujarat Giants on course with a brisk 49 off 26 balls, smashing four boundaries and three sixes to take the side past the 200-mark.
Jemimah Rodrigues pulled off a fine catch to dismiss Georgia Wareham (3), while Henry removed Gardner and Bharti Fulmali (3).
Nandini then capped a memorable outing by picking up four wickets in the final over, including three off the last three balls, to complete her maiden hat-trick.
