Australia Market ekes out gains

The Australian share market finished session slight higher on Friday, 31 January 2020, on tracking an overnight comeback in U.S. equities and as monthly data from China showed signs of stabilization. However, worries over the rapidly-spreading coronavirus capped gains. At closing bell, the benchmark S&P/ASX200 index added 8.77 points, or 0.13%, to 7,017.20, while the broader All Ordinaries grew 12.56 points, or 0.18%, to 7,121.20.

Investors' risk sentiments propelled after Thursday's World Health Organization emergency meeting eased heightened concerns over the new coronavirus. The WHO, while designating the outbreak of the disease as a public health emergency of international concern, refrained from recommending any travel or trade restriction at the emergency meeting.

The virus has killed 213 people in China and has globally infected more individuals than during the SARS (Severe Acute Respiratory Syndrome) epidemic, prompting the World Health Organisation (WHO) to declare it a global health emergency.

Official data on Friday showed growth in China's services sector activity quickened in January, rising to 54.1 from 53.5 in December, while factory activity hit the neutral 50-point mark

Australia's energy sector ended up as oil prices jumped. Oil and gas explorer Beach Energy climbed 1.1% to close at a one-week high, while Santos finished up about 1%.

The healthcare sub-index advanced, driven by Avita Medical, which rose about 5.5%, and ASX-listed Resmed Inc, which climbed 3%, after reported strong quarterly results.

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