It was a positive day for stocks in Asia. Mainland Chinese stocks strengthened their positions on June 19. For example, the Shanghai Composite gained 0.96% to around 2,967.63. In the meantime, the Shenzhen Component advanced 1.51% to about 11,668.13.
Hong Kong’s Hang Seng index also saw gains on the day.
Moreover, Japan’s Nikkei 225 added 0.55% to 22,478.79. At the same time, the Topix index finished its trading day little changed at 1,582.80.
Also, South Korea’s Kospi index gained 0.37% 2,141.32.
Stocks and coronavirus pandemic
It is not a secret that numerous factors could affect stocks. One of them is the coronavirus pandemic. Importantly, governments around the world are working hard to minimize the damage caused by a coronavirus crisis.
Despite all efforts, coronavirus continues to affect the global economy. Companies, as well as individuals, are struggling to survive due to the coronavirus crisis. Moreover, it will take to get the global economy back on track. Private and governmental organizations should work together to achieve this goal.
Investors are closely monitoring the situation to learn more about the economic impact of the pandemic. As mentioned above, stocks in the Asia Pacific were higher on Friday. Investors continued to analyze the situation regarding a recent uptick in coronavirus cases in some countries.
Hopefully, according to the information provided by a Chinese health expert a recent virus outbreak in Beijing was under control. It is worth mentioning that, Beijing saw a jump in infections after more than 50 days without domestically transmitted cases.
Last but not least, let’s have a look at the economic data. On Friday, Australia’s Bureau of Statistics released preliminary retail trade figures. According to the data retail turnover grew by 16.3% in May on a seasonally adjusted basis. Notably, this is the largest seasonally adjusted rise ever published in the history of the Retail Trade survey.
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