Stocks fell on June 29 due to the problem connected with the coronavirus pandemic. As a reminder, cases continue to rise and this is bad news for the stocks.
For example, in Japan Nikkei 225 fell 2.3% to close at 21,995.04 as shares of index heavyweight Fast Retailing and Softbank Group dropped more than 2% each. Also, the Topix index fell 1.78% to end its trading day at 1,549.22.
South Korea’s Kospi index decreased by 1.93% to close at 2,093.48.
Interestingly, mainland Chinese stocks fell on June 29. The Shanghai Composite dropped 0.61% to about 2,961.52. At the same time, the Shenzhen Component fell 0.518% to around 11,752.36.
Moreover, Australia’s S&P/ASX 200 dropped 1.51% to close at 5,815.
Stocks and coronavirus pandemic
Notably, retail sales in Japan fell by 12.3% year-on-year in May, according to the country’s Ministry of Economy, Trade, and Industry.
The coronavirus pandemic represents a serious global economy. Investors are monitoring the situation to learn more about the coronavirus pandemic and its impact on the economy. Importantly, the number of coronavirus cases continues to rise, and the U.S. has the highest number of cases not only in the region but around the world.
Hopefully, governments are willing to spend hundreds of billions of dollars to stabilize the situation. Nevertheless, it will take time to get the economy back on track. Moreover, people as well as companies should follow the instructions.
It is no secret that people hear or read about the coronavirus daily, as the coronavirus pandemic became the main topic of discussion. Furthermore, it is hard to say for how long this virus will continue to affect the global economy. Unfortunately, coronavirus cases continue to rise and this is a serious challenge for the private as well as governmental organizations. As a result, stocks in the Asia Pacific fell on Monday. The coronavirus pandemic created a lot of problems.