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Business deals

Coronavirus set to ravage new deals across Asia

Dealmaking plunged in 2019, but 2020 could be worse

A screen broadcasts stock market news on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 11, 2020   © Reuters

SINGAPORE -- The coronavirus outbreak will likely have a severe impact on new stock market listings across Asia this year and hinder mergers and acquisitions, according to global consultancy Bain & Co.

With private Asia Pacific companies already losing $85 billion in value last year, a 31% fall compared to the previous five-years, Bain said the outbreak could extend the risk of a worldwide slump with deal activity off to a "very slow start" in 2020 across the board, but especially in China.

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