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Nikkei Markets

Hong Kong shares skid as coronavirus outbreak labeled pandemic

AIA slides after reporting results, flagging disruption from virus

HONG KONG (Nikkei Markets) -- Hong Kong shares slid on mounting fears over the spread of the new coronavirus, with the World Health Organization labeling the outbreak a pandemic as cases outside China continued to multiply.

The Hang Seng Index shed 3.8% to 24,269.06 by noon, heading for its lowest close since April, 2017. With Thursday morning's decline, the gauge's 14-day relative strength index, a measure of momentum, slipped below the threshold of 30 that some technical analysts consider to be a sign it may be oversold.

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