HONG KONG: China stocks fell to six-week lows on Tuesday, in line with global markets as investor sentiment remained fragile after coordinated efforts by central banks failed to ease worries over the coronavirus impact.
The Shanghai Composite index closed 0.3% lower at 2,779.64, falling for the fifth trading day and hitting its lowest level since Feb. 4, when investors wiped $700 billions off the Chinese stock market on fears of an epidemic.
CSI300's financial sector sub-index fell 0.2%, while both the consumer staples sector and the real estate index lost 1.3%.China, where local transmission of the disease has slowed, reported another rise in confirmed virus cases as infections from abroad continued to push up the overall infection count.
"There's not a lot of news coming out of the mainland. U.S. stocks have been volatile. Although we are not as affected by the epidemic right now, the market's atmosphere is still one of caution," said Steven Leung, executive director for institutional sales at brokerage UOB Kay Hian.
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