Hong Kong markets stable on opening amid virus fears

The Hang Seng in Hong Kong jumped 0.8% to 26,345.77 as share prices in Asia bounced back Monday from last week's retreat after weeks of disruptions from the viral outbreak.

Mainland Chinese indexes gained more than 3% as data showed progress in restoring factory output after weeks of disruptions from the viral outbreak.

Stock analyst Paul Pong said the Hong Kong and China markets are holding up well because the virus spread is under control.

But Japan and Korea markets are more worrying.

Stocks have been swooning as investors fret the coronavirus outbreak will derail the global economy.

But in those declines, some see opportunities to buy.

Japan's Nikkei 225 index recovered from early losses, gaining 1% to 21,345.54 after the Bank of Japan promised to step in to support the economy.

The Shanghai Composite index rose 3.1% to 2,969.57.

The benchmark for the smaller exchange, in Shenzhen, jumped 3.4%, while South Korea's Kospi climbed 1% to 2,006.63.