Chinese Stock Indexes Drop by 8% Due to Coronavirus Epidemic
Main page News, China, Coronavirus
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3 February
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China's stock markets have begun the week posting losses as a result of the spread of the coronavirus.

Thus, at 08:20 CET, the Shanghai Composite index had fallen by 8.2%, while the Shenzhen Component had also dropped by 8.45%. However, the Hang Seng index had posted a 0.34% increase.

EXANTE experts say:

"The country's authorities have invested 1.2T yuan (about $174B) in its financial markets through open market reverse repo operations in an attempt to prevent panic. At the same time, repurchase rates have been reduced by 10 basis points. Investors have welcomed this measure, which is reflected in the 0.9% increase in the HSI index.

It looks like the Chinese market is now at the same level as other international markets, which suffered significant losses during the holidays. On the other hand, futures in the European and US markets have registered a slight increase during the day."

The coronavirus, which was first detected in China at the end of last year, has already killed 360 people and infected over 17,000.

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