Another Successful Day for Chinese Stocks

There are numerous factors that have the potential to affect stocks. The coronavirus pandemic is one of them. However, sometimes even one article is enough to boost stocks. For example, on Monday, the Shanghai Composite soared nearly 6% thanks to an article published in the state-owned China Securities Journal.

Let’s have a look at this particular front-page editorial. Based on the information taken from this editorial, investors should look forward to the wealth effect of the capital markets and the prospect of a healthy bull market.

Nevertheless, stocks in other major markets were not lucky on Wednesday, as fears regarding the coronavirus pandemic created many problems.

It makes sense, as the coronavirus pandemic is far from being over. According to the World
Health Organization, it should not be a surprise if the global death toll from coronavirus
begins to rise after taking into consideration the fact that the number of cases rose in June.

As a reminder, the number of coronavirus cases exceeded 12 million. The U.S. has the highest number of cases, as there are more than 3 million cases in the country. India, Brazil, and Russia also registered hundreds of thousands of cases. Importantly, people in those countries affected by the pandemic should follow the instructions to minimize the damage caused by coronavirus.

Stocks in Asia

Mainland Chinese stocks led gains in the regions for another day. The Shanghai Composite
gained 1.74% to around 3,403.44. In the meantime, the Shenzhen Composite grew by 1,841% to end its trading day at about 13,406.37.

Moreover, Hong Kong’s Hang Seng index also gains on the day. However, Japanese stocks fell on July 8. The Nikkei 225 dropped by 0.78% to close at 22,438.65. In the meantime, the Topix index fell 0.92% to 1,557.23.

South Korea’s Kospi index fell by 0.24% to 2,158.88.

In Australia, the S&P/ASX 200 dropped by 1.54% to close at 5,920.30.