Sun, May 19, 2024

Stocks in Asia and New Cases of the Coronavirus Pandemic

Stocks in Asia and investors

The coronavirus pandemic is a major challenge for the stocks. Recently, authorities in China decided to isolate certain parts of the district located in Beijing. Furthermore, the capital banned tourism after a cluster of coronavirus infections centered around a wholesale market located in the capital sparked fears of a new wave of coronavirus.

Importantly, 45 people out of 517 tested at the Fengtai district’s wholesale market tested positive for coronavirus. Also, they decided to suspend sports events and inter-provincial tourism.

It is worth mentioning that, Chinese economic data for May missed expectations. The industrial production in China for that month rose 4.4% year-on-year. Nevertheless, analysts expected that industrial production would increase by 5%. Also, retail sales dropped 2.8% year-on-year in May.

The coronavirus pandemic continues to dominate the headlines. For example, Texas and North Carolina reported a record-number of virus-related hospitalizations on June 13. Importantly, the main question is how to reopen the economy and at the same time how to minimize the damage caused by the coronavirus.

Stocks on June 15Investor sentiment and coronavirus pandemic

As stated above, the coronavirus pandemic continues to affect the stocks around the world. For instance, stocks in Asia fell on Monday, as investors analyzed the situation connected with the potential impact of recent spikes in coronavirus cases.

In Japan, the Nikkei 225 fell 3.47% to close at 21,530.95. In the meantime, the Topix index declined 2.54% to end its trading day at 1,530.78.

Also, South Korea’s Kospi index plunged 4.76% to close at 2,030.82.

Mainland Chinese stocks also failed to strengthen their positions on Monday. The Shanghai Composite fell 1.02% to around 2,890.03. In the meantime, the Shenzhen Component dropped 0.528% to about 11,192.27.

Hong Kong’s Hang Seng index fell 2.17% to end its trading day at 23,776.95.

Australia’s S&P/ASX 200 declined 2.19% to close at 5,179.80.

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