* Asian stock markets: tmsnrt.rs/2zpUAr4 * Tracking the coronavirus: tmsnrt.rs/3aIRuz7 * Fed rate cut fails to calm nervous investors * Equities extend global selloff * Oil market faces falling demand, more Saudi supply By Stanley White TOKYO, March 17 (Reuters) – Most Asian shares fell on Tuesday a day after Wall Street’s historic market rout, with fleeting initial gains evaporating as the coronavirus remained a major risk to economic growth. MSCI’s broadest index of Asia-Pacific shares outside Japan gave up early gains to trade 0.43% lower. Japan’s Nikkei stock index slid 2.79% and South Korea’s KOSPI was off 3.2%. Australian shares were up 0.5% although this followed a massive plunge of almost 10% on Monday. U.S. stock futures rose 1.16% early in Asian trading, but these gains were not enough to ease investor concern about the continuous spread of the flu-like virus. “It’s no surprise that we’re seeing a bounce (in U.S. stock futures) after the big falls on Monday,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “However, the situation continues to deteriorate on the economic front because of the virus.” Gold, which is normally bought as a safe-haven, extended declines on Tuesday as some investors… Read full this story
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