This week the outbreak of a pneumonia-causing virus once more highlighted the importance of stability for the stock markets. In the modern world, information about the illness or any other problem spreads in no time at all thanks to modern technologies.
This news influenced the investor sentiment as the mysterious coronavirus infected hundreds of people in China.
The Mainland Chinese stocks declined on January 23.
The death toll jumped to 17 as of Thursday. Moreover, the World Health Organization is closely monitoring the situation.
It will be harder to contain the outbreak as millions of Chinese citizens are traveling aged of the Lunar New Year. The outbreak coincided with Lunar New Year.
Stocks on January 23
The problems connected with coronavirus affected the mainland Chinese stocks as well as other Asian markets. The Shanghai Composite fell 2.75% during the day to around 2,976.53.
At the same time, the Shenzhen component fell 3.52% to close at 10,681.90. The Shenzhen composite declined 3.451% to end its trading day at approximately 1,756.82.
In Hong Kong, the Hang Seng index dropped 1.89% as of its final hour of trading.
Stocks declined in Japan. Both the Nikkei 225 and Topix fell on Thursday. The Nikkei 225 fell 0.98% to close at 23,795.44. Meanwhile, another Japanese index, Topix, also decreased by 0.78% and finished its trading day at 1,730.50.
According to the trade data, exports fell in December. In the last month of 2019, Japanese exports declined by 6.3% in comparison with the same period in 2018. Based on the data provided by the Ministry of Finance.
South Korea’s Kospi index also fell on January 23 by 0.93% to close at 2,246.13.
Chinese officials are working hard to deal with coronavirus. They even suspended all public transportation in the city of Wuhan. The outcome of this outbreak will have a significant impact on the stock markets.
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