Asian currencies could be hit by coronavirus fears as uncertainty lingers

Investors will be looking to reduce risks amid the uncertainty brought on by the virus outbreak in China, ahead of the holidays, said Bank of America Securities' Adarsh Sinha.

As concerns grow over the spread of an outbreak of a mysterious coronavirus that has infected hundreds in China and killed 9, Bank of America Securities' Adarsh Sinha said investors will start looking to reduce risks.

So far, more than 400 cases have been confirmed by public healthcare officials, with the bulk of them coming from China. Cases have also been confirmed in Thailand, South Korea, Japan and Taiwan. "The key thing here is just the uncertainty and also the uncertainty heading into the holiday period," Sinha said. "From an investor point of view, people are just reducing risk and I think that's what we're seeing particularly in the exchange rate markets in the region."

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