The coronavirus pandemic became the main topic of discussion among healthcare professionals, as well as politicians, managers, etc. Investors are closely monitoring the situation to learn more about the main challenges. Unfortunately, there is no shortage of problems and it is hard to say when companies will be able to get back on track. Stocks in China, Japan, and other parts of the region suffered losses on Friday.
Let’s begin with the Chinese stocks. Mainland Chinese stocks had a tough day on April 24. The Shanghai Composite dropped 1.06% to about 2,808.53. Moreover, another stock index Shenzhen composite fell 1.48% to around 1,736.93. Also, the Shenzhen component decreased 1.33% to 10,423.46.
Hong Kong’s Hang Seng index dropped about 0.4% as of its final hour of trading.
In South Korea, the Kospi index fell 1.34% to close at 1,889.01. Moreover, another index Kosdaq finished its trading day 1.68% lower at 632.96.
Japanese stocks dropped on Friday. The Nikkei 225 dropped 0.86% to close at 19,262. At the same time, the Topix index fell 0.33% to end its trading day at 1,421.39.
However, Australia’s S&P/ASX 200 strengthened its positions on Friday. Its index added 0.49% to 5,242.60.
Stocks and coronavirus treatment
Scientists are working round the clock to create an effective vaccine as well as to come up with a treatment that will save lives. However, it won’t be easy to solve problems related to treatment.
Stocks reacted to the news that drug remdesivir did not improve the coronavirus patients’ treatment. This information is based on the documents from the Chinese clinical trial.
Unfortunately, the coronavirus pandemic continues to spread around the world. There are more than 2.7 million confirmed cases. The U.S. has the largest number of cases. The governments across Europe and other parts of the world unveiled massive stimulus packages to avoid the financial crisis.