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Nikkei Markets

Hong Kong shares slide as China coronavirus cases surge

Forty-nine Hang Seng Index constituents drop as markets open after long weekend

HONG KONG (Nikkei Markets) -- Hong Kong shares slumped on Wednesday as markets reopened after the Lunar New Year break to deepening fears around the spread of a novel coronavirus in China.

The Hang Seng Index slid 2.4% to 27,289.55 by noon, with forty-nine of the index's 50 constituents trading lower. Hong Kong developer Hang Lung Properties led percentage losses on the index, sliding 5.8%. Casino operators Galaxy Entertainment Group and Sands China fell 4.7% and 5.7%, respectively, as visitors to Macao declined during the holiday due to the virus outbreak.

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