Shares in Asia Pacific tumble after heavy U.S. losses on virus spike

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Stocks in the Asia Pacific region on Thursday fell sharply, after U.S. shares plunged due to an alarming increase in new coronavirus infections.
Japan’s benchmark Nikkei 225 Stock Average lost 274.53 points, or 1.22 per cent, to close at 22,259.79.

The broader Topix index was down 18.65 points, or 1.18 per cent, to end at 1,561.85.

South Korea’s Kospi index dropped 49.14 points, or 2.27 per cent, to end at 2,112.37.

Australia’s benchmark S&P/ASX200 index closed down 2.48 per cent and the broader All Ordinaries index plunged 2.53 per cent on the day.

Financial markets in Shanghai and Hong Kong were closed for public holidays.

On Wednesday, the Dow Jones Industrial Average plummeted 2.72 per cent and the S&P 500 fell 2.59 per cent, while the tech-heavy Nasdaq, which has been outperforming recently, was down 2.19 per cent.

According to data from broadcaster CNN, The New York Times and Johns Hopkins University, the U.S. reported between 35,000 and 36,000 new coronavirus infections, its worst single-day caseload since April.

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