China: Stocks plunge nearly 9% on virus fears

[SHANGHAI] Chinese stocks collapsed almost nine per cent at the start of trade Monday, hit by fears over the spiralling coronavirus as investors returned from the Chinese New Year holiday, which was extended because of the outbreak.

The benchmark Shanghai Composite Index dived 8.73 per cent, or 259.83 points, to 2,716.70, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, sank 8.99 per cent, or 158.02 points, to 1,598.80.

But in Hong Kong, the benchmark Hang Seng Index edged up 0.17 per cent, or 43.59 points to 26,356.22 in the first few minutes.

AFP