Virus spread continues to weigh on sentiment

ASIAN equity markets continued their slide to start the week, with investors keeping a close eye on developments of the fast-spreading novel coronavirus. New cases within China have slowed in the past week but Stephen Innes, AxiCorp's chief market strategist, noted that markets remain "extremely concerned" about an escalation outside of China, holding back risk-friendly activity.

Singapore's Straits Times Index opened the week 1.3 per cent lower but managed to claw back some of those losses to end Monday's session at 3,163.15, down 18.33 points or 0.6 per cent.

Elsewhere in the Asia-Pacific, Australia, Japan, Hong Kong, Malaysia, South Korea and Taiwan all ended lower.