The coronavirus pandemic is a serious challenge even for the most developed economies and it will take time to stabilize the situation. Last week, stocks Stocks reacted to the news that drug remdesivir did not improve the coronavirus patients’ treatment. This information had a negative impact on stocks.
As a reminder, scientists are working hard to come up with a treatment that will save lives.
Importantly, as of April 27, the number of confirmed cases surpassed 3 million. The U.S. has the largest number of cases with more than 987,000 cases.
Stocks in Asia and various factors
Last week, more precisely on Friday stocks in Japan, China and other parts of the region declined due to the problems connected with coronavirus treatment. Moreover, Investors are closely monitoring the situation to learn about the main problems, and coronavirus is the major issue.
However, it is hard to say when companies will be able to get back on track. Let’s have a look at the stocks in Asia.
Mainland Chinese stocks fell on April 24. For example, the Shanghai Composite dropped 1.06% to about 2,808.53. Also, another stock index Shenzhen composite fell 1.48% to around 1,736.93. Moreover, the Shenzhen component fell 1.33% to 10,423.46.
Hong Kong’s Hang Seng index also declined on Friday
South Korea’s, Kospi index dropped 1.34% to close at 1,889.01. Also, the Kosdaq index finished its trading day 1.68% lower at 632.96.
Moreover, stocks in Japan also struggled as they also fell on April 24 Japanese stocks. The Nikkei 225 dropped 0.86% to close at 19,262. In the meantime, the Topix index fell 0.33% to end its trading day at 1,421.39.
Nevertheless, Australia’s S&P/ASX 200 strengthened its positions by 0.49% to 5,242.60.
Governments across the Asia Pacific should work harder to support their economies. Otherwise, some of them may not survive the crisis caused by the virus.