Asian markets fall as coronavirus concerns weigh on sentiment

Asian markets fall as coronavirus concerns weigh on sentimentSYDNEY (Reuters) – Stocks and oil fell while safe-haven gold rose on Monday as the death toll from a coronavirus outbreak surpassed the SARS epidemic, raising alarm bells about its severity.
FILE PHOTO: A men wearing a mask walk at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 3, 2020. REUTERS/Aly SongAs many as 908 people have so far died in China’s central Hubei province as of Sunday with most of the new deaths in the provincial capital of Wuhan, the epicenter of the outbreak.
MSCI’s broadest index of Asia-Pacific shares outside Japan stumbled 0.7% to be on track for its second straight day of loss. Japan’s Nikkei fell 0.8% while South Korea’s KOSPI was off 1.4% and Australian shares eased 0.5%.
The losses extended from Wall Street on Friday where the Dow fell 0.9%, the S&P 500 declined 0.5% while the Nasdaq dr..

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Wall Street futures fall as coronavirus toll rises, China plans return to work

Wall Street futures fall as coronavirus toll rises, China plans return to workFILE PHOTO: Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. REUTERS/Lucas JacksonNEW YORK (Reuters) – U.S. stock futures fell on Sunday after China’s death toll from the coronavirus outbreak exceeded the global total from the SARS epidemic and as authorities prepared for millions of people to return to work after an extended Lunar New Year break.
Investors, carefully monitoring the virus with concerns about the global economic impact, had pushed Wall Street lower on Friday.
China reported that the total number of coronavirus deaths on the mainland reached 908 as of the end of Sunday with 97 new deaths, compared with 89 on Saturday.
Futures snapshot at 7:00PM ET 00:00 GMT:
** S&P 500 e-minis EScv1 were down 13.25 points, or 0.4%, with 54,719 contracts changing hands.
** Nasdaq 100 e-minis NQcv1 were down 49 points, or 0.52%, in v..

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China to France: Don’t discriminate against Huawei on 5G networks

China to France: Don't discriminate against Huawei on 5G networksPARIS (Reuters) – The Chinese embassy in Paris on Sunday urged the French government not to discriminate against Huawei as it selects suppliers for its 5G mobile network, saying it feared the company would face more constraints than rivals.
FILE PHOTO: A smartphone with the Huawei and 5G network logo is seen on a PC motherboard in this illustration picture taken January 29, 2020. REUTERS/Dado Ruvic/IllustrationChina’s Huawei, a global giant in telecoms network equipment, is the center of an international political storm as the United States seeks to convince countries to ban the company from their mobile networks. Washington says its technology could allow “back doors” for Chinese spying – an allegation denied by Huawei and Beijing.
France is in the early stages of rolling out its next-generation wireless technology, and the government’s stance over Huawei’s possible role still lacks clarity, according to some tele..

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Mattel will close Canada factory after shuttering two manufacturing sites in Asia: WSJ

Mattel will close Canada factory after shuttering two manufacturing sites in Asia: WSJFILE PHOTO: The Mattel company logo is seen at the 114th North American International Toy Fair in New York City, U.S., February 21, 2017. REUTERS/Stephanie Keith/File Photo(Reuters) – Mattel Inc (MAT.O) will close a factory in Canada after shutting down two plants in Asia, as the toymaker reduces its manufacturing footprint to cut costs, the Wall Street Journal said on Sunday.
The maker of Barbie dolls closed its manufacturing sites in China and Indonesia last year and will shut a facility in Canada sometime this year, the newspaper said.
The closure of the Mega Bloks factory in Montreal, Canada would affect about 580 workers, the journal reported, citing a company spokeswoman.
The manufacturing overhaul is said to be a part of Chief Executive Officer Ynon Kreiz’s plan to turn around and stabilize Mattel, which has struggled in recent years from weak sales, the newspaper added.
Mattel did not imme..

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China’s Shenzhen denies blocking Apple supplier Foxconn from resuming production

China's Shenzhen denies blocking Apple supplier Foxconn from resuming productionBEIJING (Reuters) – Local Chinese authorities have not blocked Apple (AAPL.O) supplier Foxconn (2317.TW) from resuming production amid a coronavirus outbreak, they said in a statement on Sunday, denying an earlier report in the Nikkei Business Daily.
FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu/File PhotoThe Nikkei, citing four people familiar with the matter, said here on Saturday that public health experts had carried out inspections at Foxconn's factories and told the company that there was a “high risk of coronavirus infection” at the facilities, making them unsuitable for a production restart.
Shenzhen’s Longhua district, where Foxconn’s largest factory is located, said in a statement on its official WeChat account on Sunday that those reports were untrue an..

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China’s Shenzhen says Foxconn to resume operations after inspections

China's Shenzhen denies blocking Apple supplier Foxconn from resuming productionBEIJING (Reuters) – Local Chinese authorities have not blocked Apple (AAPL.O) supplier Foxconn (2317.TW) from resuming production amid a coronavirus outbreak, they said in a statement on Sunday, denying an earlier report in the Nikkei Business Daily.
FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu/File PhotoThe Nikkei, citing four people familiar with the matter, said here on Saturday that public health experts had carried out inspections at Foxconn's factories and told the company that there was a “high risk of coronavirus infection” at the facilities, making them unsuitable for a production restart.
Shenzhen’s Longhua district, where Foxconn’s largest factory is located, said in a statement on its official WeChat account on Sunday that those reports were untrue an..

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U.S. energy secretary hopes Mexico, Canada will help export American coal

U.S. energy secretary hopes Mexico, Canada will help export American coalWASHINGTON (Reuters) – U.S. Energy Secretary Dan Brouillette said on Friday that Canada and Mexico could help export U.S. coal to Asia to get around the blocking of shipments by West Coast states concerned about the impact of the fuel on climate change.
FILE PHOTO: Dump trucks haul coal and sediment at the Black Butte coal mine outside Rock Springs, Wyoming, U.S. April 4, 2017. REUTERS/Jim Urquhart/File PhotoBrouillette said he expects the two U.S. neighbors will offer opportunities to export coal in talks that could be facilitated by the new North American trade agreement, the United States-Mexico-Canada Agreement, or USMCA, that President Donald Trump signed last month.
“That’s why the USMCA was so important,” Brouillette said at an Atlantic Council event in Washington. “We hope to work more collaboratively with both Mexico and Canada to find export facilities to get the coal from Wyoming,” and other states in..

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Anti-Huawei UK lawmakers conducting ‘witch-hunt’: Chinese ambassador

Anti-Huawei UK lawmakers conducting 'witch-hunt': Chinese ambassadorFILE PHOTO: Chinese Ambassador to Britain Liu Xiaoming talks to the crowd following the Chinese Lunar New Year parade through central London, Britain January 26, 2020. REUTERS/Simon DawsonLONDON (Reuters) – Senior members of Prime Minister Boris Johnson’s Conservatives who have demanded Chinese telecoms giant Huawei must not have a role in Britain’s 5G mobile network are conducting “a kind of witch-hunt”, China’s ambassador to London said on Sunday.
Last month the government said “high-risk vendors” such as Huawei would be allowed into the non-sensitive parts of the 5G network, although their involvement will be capped at 35%.
Asked about a letter to Conservative lawmakers by several former ministers expressing concern over Huawei, Liu Xiaoming told the BBC: “They are totally wrong, I think what they are doing is a kind of a witch-hunt. Huawei is a private-owned company, nothing to do with the Chinese gover..

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