Asian stock markets were mixed Wednesday after Wall Street sank despite an emergency U.S. interest cut aimed at defusing fears a virus outbreak might depress global economic activity.
Benchmarks in Shanghai and Sydney declined while Tokyo and Seoul advanced. Hong Kong was little-changed.
On Wall Street, the benchmark S&P 500 index tumbled 2.8% on Tuesday despite the Federal Reserve's surprise 0.5% rate cut. It was the index's eighth daily decline in nine days.
Markets also appeared to be unimpressed by a pledge from the Group of Seven major industrialized countries to support the global economy that included no specific measures.