By Anna Isaac

Global stocks were mixed Tuesday as investors parsed efforts world-wide to contain a deadly virus outbreak in China.

Futures tied to the Dow Jones Industrial Average rose 0.3%, a day after the index for blue-chip U.S. stocks shed more than 450 points. The Stoxx Europe 600 gauge wavered between gains and losses, while exchanges in China and Hong Kong remained closed for the Lunar New Year holiday. Japan's Nikkei 225 ended the day down almost 0.6%.

U.S. drugmakers are shipping antiviral treatments including drugs approved to treat HIV to Chinese health authorities to gauge whether the medicines may prove effective in containing the respiratory infections. The death toll from the coronavirus has reached more than 100, with over 4,500 cases of infection reported in China, while travelers have carried the infection to other countries including the U.S., Australia, Germany and Japan.

Major exchanges in Hong Kong are scheduled to open Wednesday, while bourses on the mainland will be closed until next week after Chinese authorities extended the holiday in a bid to curtail mass migration and contain the virus.

South Korea's Kospi equity index ended Tuesday down 3.1%--the biggest drop since October 2018 -- after markets in the country resumed trading following the Lunar New Year holiday. The retreat was led by declines in tourism and technology stocks.

Commodities prices continued to fall on concern that the viral outbreak may damp China's demand for energy and industrial metals. Brent crude, the global benchmark for oil, dropped 0.8% to $58.13 a barrel.

Later in the day, drug manufacturer Pfizer, industrial giant United Technologies, and motorcycle maker Harley-Davidson are among the several major U.S. companies scheduled to report earnings.

The Commerce Department is also due to release December durable-goods orders, an indicator for manufacturing health in the U.S. Economists surveyed by The Wall Street Journal estimate that orders climbed 0.2% last month.

Write to Anna Isaac at anna.isaac@wsj.com

(END) Dow Jones Newswires

January 28, 2020 05:35 ET (10:35 GMT)

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