Hong Kong, Jan 23 (AFP/APP): Investor nerves over the spread of a deadly new virus from China rattled Asian equities and oil benchmarks on Thursday, as authorities moved to contain the disease. The city at the centre of the outbreak was placed under effective quarantine, with flights and trains suspended from Wuhan and residents told not to leave “without a special reason”. More than 570 people have been infected with the coronavirus across China and it has since spread to several other Asian countries, as well as the United States. The coronavirus has caused alarm because of its similarity to SARS (Severe Acute Respiratory Syndrome), which killed hundreds of people in 2002-2003. “China’s importance in the overall global supply chain and the fact they are a huge export market for many countries… opens up a more unfavourable global outcome this time around,” Stephen Innes, chief market strategist of AxiCorp, said in a note. Oil prices were hit hard in overnight trade with both major indexes down by more than one percent. “Given the importance of China for oil demand and having the outbreak falling on the cusp of peak domestic travel season, the timing is particularly damaging,” Innes said. The … Continue reading Asian markets rattled as China steps up virus response