AsiaCoronavirusMarketsNewsShares in Asia Pacific Tumble on Fears of Second Virus Wave

Stocks in the Asia Pacific region on Monday plummeted amid fears of a resurgence of COVID-19, as more countries gradually lifted restrictions.

The Japanese yen rise also contributed to a 3.4 per cent plunge in the benchmark Nikkei 225 Stock Average.

The Nikkei lost 774.53 points, or 3.47 per cent, to close at 21,530.95, ending below the 22,000 mark for the first time since late May.

Earlier, Tokyo Ministry of Health announced 48 new cases of the novel coronavirus, after reporting 47 new cases the previous day, the heaviest daily rise since the government lifted a state of emergency for the capital in May.

Meanwhile, China found 49 new coronavirus infections on Monday, after recording 57 new cases the previous day, the highest daily increase in two months, as it battles a fresh outbreak linked to a Beijing market.

China’s CSI 300 index closed down 1.2 per cent and the Shanghai Composite index fell 1.02 per cent on Monday.

South Korea’s Kospi index plunged 4.76 per cent on Monday, while Australia’s benchmark S&P/ASX200 index closed down 2.19 per cent and the broader All Ordinaries index fell 2.18 per cent.

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