The mainland Chinese stocks saw gains while the Japanese stocks fell on Wednesday. Importantly, stocks in the Asia Pacific were little changed due to the issues connected with the coronavirus pandemic. It makes sense as caution remained over a recent resurgence in coronavirus cases in certain countries in the region.
As stated above, mainland Chinese stocks strengthened their positions. For example, the Shanghai Composite added 0.22% to about 2,898.05. At the same time, Shenzhen Composite rose 0.669% to around 1,822.085.
However, Hong Kong’s Hang Seng index was largely flat as of its the final hour of trading.
Nevertheless, both Nikkei 225 and Topix fell on Wednesday. The Nikkei 225 dropped 0.49% to close at 20,267.05. In the meantime, the Topix fell 0.14% to end its trading day at 1,474.69.
South Korea’s Kospi index added 0.95% to 1,940.42.
Moreover, Australia’s S&P/ASX 200 gained 0.35% to finish its trading day at 5,421.90.
Stocks and investor sentiment
The information related to the coronavirus pandemic continues to affect investor sentiment. The total number of confirmed cases surpassed 4.3 million. Moreover, the U.S. has the largest number of confirmed cases.
In the U.S. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious diseases made a comment about the topic. According to Fauci, a vaccine will be essential when it comes to stopping the coronavirus. However, it will take time to develop an effective vaccine.
Nevertheless, he mentioned that the number of cases in the U.S. could increase if states start to reopen their economics to quickly.
Let’s have a look at the U.S. stocks. On Tuesday, the Dow Jones Industrial Average dropped 457.21 points to 23,764.78. Meanwhile, the S&P 500 fell 2.1% to end its trading day at 2,870.12. Moreover, the Nasdaq Composite dropped more than 2% to close around 9,002.55.
Private and governmental organizations should understand that it will take time to stabilize the situation.