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| - European and US stock markets recovered further Wednesday, as positive Apple earnings and US data offset concerns over the spreading coronavirus that has caused airlines to suspended flights to China. Hong Kong's main stocks index slumped 2.8 percent by the close as traders returning from the Lunar New Year break played catch-up with the global selloff triggered by the epidemic. The Dow index was 0.7 percent higher as trading got underway in New York. The dollar largely firmed against other major currencies, while oil prices climbed higher. "Risk sentiment is being given some reprieve from concerns over the novel coronavirus outbreak," said Han Tan, market analyst at FXTM. "The positive surprise in Apple's latest earnings overnight and Tuesday's better-than-expected US consumer confidence reading... served as distractions from the coronavirus gloom that has beset investors." Apple on Tuesday posted record results for the final three months of last year, delivered by gains in iPhone sales. But striking a sombre tone during an earnings call, chief executive Tim Cook said the company is closely watching the viral outbreak hitting China, where Apple has customers, partners, suppliers and employees. The outbreak could deal a heavy blow to China's already-fragile economy, coming during the Lunar New Year holidays when millions criss-cross the country and spend lots of money. A number of airlines have decided to temporarily halt or reduce flights to China as the country struggles to contain the spread of the virus. British Airways was the first major carrier to announce a total suspension of flights. Indonesia's Lion Air Group, which owns Southeast Asia's biggest fleet of planes, also said it would halt services from Saturday "until further notice". China has advised its citizens to postpone trips abroad and cancelled overseas group tours, while several countries have urged citizens to avoid travelling to China. "Markets will remain very volatile due to the (virus) uncertainty and the swings won't subside until we have clear evidence that the virus is fading," said Banny Lam at CEB International Investment. Investors took some cheer from US data showing healthy consumer activity, a pick-up in consumer confidence and a recovery in the key manufacturing sector. The Federal Reserve's policy meeting Wednesday is expected to see US interest rates on hold. London - FTSE 100: UP 0.2 percent at 7,493.49 points Frankfurt - DAX 30: UP 0.3 percent at 13,359.41 Paris - CAC 40: UP 0.6 percent at 5,963.22 EURO STOXX 50: UP 0.5 percent at 3,738.84 New York - DOW: UP 0.7 percent at 28,909.19 Hong Kong - Hang Seng: DOWN 2.8 percent at 27,160.63 (close) Tokyo - Nikkei 225: UP 0.7 percent at 23,379.40 (close) Shanghai - Composite: Closed for a public holiday Euro/dollar: DOWN at $1.0995 from $1.1022 at 2200 GMT Pound/dollar: DOWN at $1.2998 from $1.3028 Euro/pound: DOWN at 84.60 pence from 84.61 pence Dollar/yen: UP at 109.17 yen from 109.15 yen Brent Crude: UP 0.9 percent at $60.02 per barrel West Texas Intermediate: UP 0.5 percent at $53.73 per barrel burs-wai/bmm
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