Asian shares stepped back from three-week highs on Monday as investors weighed the near-term hit on global growth from a fast-spreading coronavirus outbreak in China, although expectations of further policy stimulus helped stem losses.
Trading is expected to be light as U.S. stocks and bond markets will be shut on Monday for a public holiday.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1% to 555.50, easing further from last week’s top of 558.30, which was the highest since late January.
Australian shares and South Korea’s KOSPI index were each down 0.3%.
Japan’s Nikkei fell more than 1% after data showed the country’s economy contracted at an annualized pace of 6.3% in October-December, shrinking at the fastest pace since the second quarter of 2014.
Source : Reuters