Coronavirus outbreak shutters ECM after Asia market battering

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Coronavirus outbreak shutters ECM after Asia market battering

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A concerned Chinese investor looks at a screen displaying prices of shares (red for price rising and green for price falling) at a stock brokerage house in Nanjing city, east China's Jiangsu province, 12 June 2019. Shares in Asia Pacific declined on Wednesday following an overnight trading session on Wall Street that saw the end of the Dow Jones Industrial Average's winning streak. Mainland Chinese shares slipped on the day, with the Shanghai composite declining 0.56\% to close at 2,909.38 and the Shenzhen component shedding 0.92\% to end its trading day at 8,954.72. The Shenzhen composite also fell 0.639\% to close at 1,528.40. (Photo by Jiang ning - Imaginechina/Sipa USA) | Imaginechina/SIPA USA/PA Images

European equity capital markets’ buoyant start to the year ground to a halt this week as banks held back from doing deals over concerns about the outbreak of a deadly strain of coronavirus in China and how it may damage investor risk appetite. Losses in Asian markets, which are reopening following the Lunar New Year holiday, have compounded fears that global risk sentiment may be turning.

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