"It's an essential enough development that markets will monitor it on the risk radar as, if things turn critical, it could provide a massive blow to the airline industry and a knockout punch to local tourism," said Stephen Innes, Asia Pacific market strategist at AxiCorp.
SYDNEY: Asian shares took a sudden turn for the worse on Tuesday as mounting concerns about a new strain of coronavirus in China sent a ripple of risk aversion through markets.
Safe-haven bonds and the yen edged higher as investors were reminded of the economic damage done by the SARS virus in 2003, particularly given the threat of contagion as hundreds of millions travel for the Lunar New Year holidays.
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