Hong Kong, March 23 (AFP/APP): Asian markets were mostly in the red in early trade Monday despite massive economic stimulus efforts worldwide, with investors spooked by the relentless march of the coronavirus pandemic. The negative mood was fuelled by the failure of US lawmakers to agree on a trillion-dollar emergency package to help the reeling American economy. The global death toll from the virus has surged past 14,300, with nearly a billion people confined and non-essential businesses shut in dozens of countries and growing fears about a recession. Wellington nosedived 9.3 percent as New Zealand announced a four-week lockdown to stop the spread of the coronavirus. The Hang Seng Index in Hong Kong was down 3.7 percent, Sydney dropped six percent, Shanghai shed 2.5 percent and Taiwan was off by 2.8 percent. Singapore tanked 7.5 percent, Jakarta lost four percent, and Seoul was down 3.4 percent. Tokyo, however, was up 0.5 percent as a cheaper yen against the dollar boosted the market. Economists and analysts are now worried about how deep the impact of the pandemic could be on the global economy, with social distancing measures and lockdowns dealing serious blows to many industries. Goldman Sachs, Morgan Stanley, and JP … Continue reading Asian markets sink as pandemic deaths soar