Asia Stocks Plunge as Worries over Coronavirus Remain, Apple to Miss 2Q Revenue Forecast

The majority of the stock market in Asia fell on Tuesday as the outbreak from coronavirus (COVID-19) still pressured the market and companies’ revenue forecast in 1Q20.

 

As of 10:10 local time in Bangkok, Nikkei fell 1.21%, SSEC slipped 0.18%, HSI lost 1.00%, ASX 200 dipped 0.24% and Kospi plunged 1.36%.

Yesterday, SET closed at 1,527.25 points, increased 0.95 points or 0.06% with a trading value of 52.4 billion baht.

 

Even though the number of new infections in China declined lower than 2,000 on Tuesday for the first time since January, according to Chinese health officials, experts still warn that it is too early to say the outbreak is being contained.

More importantly, Apple Inc. said yesterday that the company does not expect to meet its revenue forecast in the second quarter of 2020, ending March 31 due to the lower iPhone supply globally while the demand in China also declines as well.