SARS takes increasing toll on Asia

SINGAPORE: Economic fallout in Asia from the Severe Acute Respiratory Syndrome (SARS) crisis mounted yesterday as the World Bank cut its regional growth forecast, Hong Kong received a credit rating blow, and investors dumped shares in Asian retailers and exporters to China. 

Although investors have already cut exposure to sectors most exposed to the virus, such as retailing and regional travel, selling picked up after an acceleration in cases in China and growing fears that SARS may stall the region’s economic engine.