It was a tough day for Hong Kong’s Hang Seng index. On Friday, the Hang Seng index fell to 25,727.41. As a reminder, the city suspended all schools starting from this week, due to a recent spike in coronavirus cases. Last week more precisely on Friday, Hong Kong’s Education Bureau announced the suspension of all schools.
However, for the last couple of months, schools in Hong Kong have been mostly shut down as the government is trying to contain the virus. Furthermore, many international schools in Hong Kong are already on summer break.
Several days ago, the city reported 42 new cases. Interestingly, out of the 42 cases, 34 cases were locally transmitted.
The coronavirus is a serious challenge for the U.S. Quite notably, the country has the highest number of cases in the world.
Unfortunately, the pandemic continues to affect stocks. The number of cases continues to rise in many countries across the world. Governments are ready to do whatever it takes to cope with the coronavirus pandemic. However, people should understand the severity of the problem. They must also follow social distancing rules.
Mainland Chinese as well as Japanese stocks on Friday
Mainland Chinese stocks fell on July 10. Furthermore, stocks dropped across the Asian Pacific as investors are closely monitoring the situation regarding the coronavirus pandemic.
As stated above, Chinese stocks saw losses on the day. The Shanghai Composite fell by 1.95% to 3,383.32. At the same time, the Shenzhen Composite dropped by 0.3% to 2,251. The Shenzhen Component fell by 0.61% to end its trading day at 13,671.24.
Australia’s benchmark ASX 200 dropped by 0.61% to 5,919.20. The heavily-weighted financials subindex fell by 0.72% while the energy subindex fell by 1.98%.
In Japan, the Nikkei 225 fell by 1.06% to 22,290.81. In the meantime, the Topix index declined by 1.42% to 1,535.20.
South Korea’s Kospi index fell by 0.81% to 2,150.25.