Coronavirus Outbreak Updates: 17 killed, China’s Wuhan on lockdown, WHO to decide further action

Tokyo shares dropped on Thursday, led by energy-related and cyclical stocks, as investors remained anxious about the spread of coronavirus, the new flu-like virus in China and awaited Japanese corporate earnings. The Nikkei share average dropped 0.5% to 23,901.72 in mid-morning trade, giving up nearly all the gains made in the previous session, while the broader Topix fell 0.4% to 1,736.65. A broad range of shares fell, with all but one of the Tokyo Stock Exchange’s 33 industry subindexes in negative territory. Traders said a sharp slide in commodity prices, partly due to worries about China’s virus outbreak, weighed on commodity-related and cyclical stocks. Among the Tokyo bourse’s subsectors, sea transport , mining and oil and coal products were the worst performing subindexes, declining by 2.0%, 1.9% and 1.8%, respectively. Bucking the overall weak trend, semiconductor automated test equipment (ATE maker Advantest jumped 4.1% after its U.S. competitor Teradyne’s fourth quarter earnings beat estimates. In Japan, Nidec Corp and Disco Corp are due to announce their financial results for the October-December quarter later on Thursday, reports Reuters