Australia Stocks and Dramatic Comeback

Investors are closely monitoring the situation to learn more about the impact of Coronavirus on the stocks. Stock markets across the Asia Pacific region were mixed on Friday. Some of them strengthened their positions while others fell due to the ongoing situation.

For instance, Australia’s S&P/ASX 200 index made a dramatic comeback as it recovered from earlier losses. The S&P/ASX 200 index added 4.42% to end its trading day at 5,539.30.

Moreover, India’s Nifty 50 index added 2.15%. Nevertheless, in Thailand, the SET composite index was last declining 0.98% after a brief turnaround earlier.

In Japan, the Nikkei 225 dropped 6.08% to close at 17,431.05. Importantly, at some point, the index even fell 10%.

The Topix index fell 4.98% to end its trading day at 1,261.70.

South Korea’s Kospi index declined 3.43% to close at 1,771.44. In the meantime, the Kosdaq index dropped 7.01% to end its trading day at 524.

Hong Kong’s Hang Seng index fell 1.49%.

Stocks in Asia on Friday

Unfortunately, Chinese stocks also declined on Friday. The Shanghai Composite dropped 1.23% to about 2,887.43. Meanwhile, the Shenzhen component fell 1% to 10,831.13. The Shenzhen composite dropped 1,076% to around 1,798.98.

Meanwhile, Hong Kong’s Hang Seng index fell 1.49%.

Singapore is one of the major financial hubs; the Straits Times Index was 2.24% lower in afternoon trade. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 4.42%.

Also, Indonesia’s Jakarta Composite fell by 2.4%.

Shares of airlines declined due to the ongoing situation. Australia’s Qantas Airways fell 12.64%.

Furthermore, shares of ANA Holdings dropped 7.59%, and shares of Japan Airlines fell 12.51%. Interestingly, shares of Korean Air Lines dropped 5.07%.

Shares of China Southern Airlines fell 2,.92%, and Singapore Airlines’ in Singapore fell 2.86%. It is not surprising that shares of major airlines in the region fell on Friday, as the government not only in Asia but across the world-imposed travel restrictions.