Stocks world-wide rallied, following U.S. markets higher on hopes that interest-rate cuts and government action will be able to cushion the impact of the novel coronavirus epidemic.

By late morning in Hong Kong on Tuesday, Australia’s S&P/ASX 200 shot up 1.5%, and South Korea’s Kospi advanced 1.1%. Japan’s Nikkei 225 reversed early gains to trade flat.

On…

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