Japan's Nikkei falls 4% while Australian shares rise
Japan’s Nikkei 225 lost 4% in morning trading, while Hong Kong’s Hang Seng retreated 1%. Stock benchmarks in South Korea and Shanghai were little changed. Australia’s ASX 200 rose 3.2%.
Volatile stock markets reflect investors grappling with a lot of conflicting information, said Vikas Pershad, portfolio manager at M&G Investments. “The markets are not broken. What we’re seeing is a very large disconnect between the present world and the future that they’re pricing in,” he said. The number of new coronavirus cases in the U.S. topped 66,100, with a death toll of more than 940, led by a continued surge of infections in New York. Globally, there were more than 470,000 cases Thursday, with a death toll surpassing 21,200, according to data from Johns Hopkins University.
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