Japan minister warns coronavirus outbreak may rattle profits, production

China is Japan's second largest export destination and a huge market for its retailers

Japanese Economy Minister Yasutoshi Nishimura on Tuesday warned that corporate profits and factory production might take a hit from the coronavirus outbreak in China that has rattled global markets and chilled confidence.

Asian stocks extended a global selloff as the outbreak in China, which has killed 106 people and spread to many countries, fuelled concern over the damage to the world's second largest economy - an engine of global growth.

"There are concerns over the impact to the global economy from the spread of infection in China, transportation disruptions, cancellation of group tours from China and an extention in the Lunar Holiday,"