The coronavirus pandemic created a lot of problems for the stability of the global economy. Moreover, the pandemic is not over as can be seen from a recent resurgence in coronavirus cases in certain countries in the region. It is not surprising that the information related to the coronavirus pandemic continues to affect investor sentiment. As of May 13, the total number of confirmed cases surpassed 4.3 million. The U.S. has the largest number of confirmed cases.
According to Dr. Anthony Fauci, a vaccine will be essential when it comes to stopping the coronavirus. Nevertheless, it will take time to develop an effective vaccine.
Also, Dr, Fauci mentioned that the number of cases could rise if states start to reopen their economics to quickly.
Two days ago, on May 12, the Dow Jones Industrial Average dropped 457.21 points to 23,764.78. At the same time, the S&P 500 fell 2.1% to end its trading day at 2,870.12 Also, the Nasdaq Composite fell more than 2% to close around 9,002.55.
Investor sentiment and stocks in Asia
There is no shortage of factors that may affect investor sentiment. Let’s have a look at the stocks in the Asia Pacific region.
Interestingly, stocks in the Asia Pacific were little changed as a recent resurgence in coronavirus cases in certain countries in the region affected the stocks.
Mainland Chinese stocks saw gains on May 13. The Shanghai Composite added 0.22% to about 2,898.05. In the meantime, Shenzhen Composite rose 0.669% to around 1,822.085.
In Japan, both Nikkei 225 and Topix fell on Wednesday. The Nikkei 225 fell 0.49% to close at 20,267.05. Meanwhile, the Topix dropped 0.14% to end its trading day at 1,474.69.
South Korea’s Kospi index gained 0.95% to 1,940.42.
Also, Australia’s S&P/ASX 200 added 0.35% to finish its trading day at 5,421.90.