China’s coronavirus impacts Chinese shares

Shanghai Stock Exchange experience largest daytime decline in last 9 months

The decrease is caused by coronavirus in Wuhan.

Shanghai blue chips index CSI 300 dropped in more than 3% during Thursday, which represents largest intraday decrease since last May. The overall Shanghai share index weakened in 2,8%. Similarly, whole the business week in Shanghai wasn’t successful – it was actually the worst business week since August 2019. Moreover, Shanghai stocks close down on Friday for the celebration of the Chinese lunar New year.

Selling mood on Chinese stock exchanges grew after government decided to close off the city of Wuhan, where the virus probably started. Coronavirus is most compared to SARS virus, which spread through China during 2002 and 2003.

The decreased selling mood was present in all sectors. Yet, transportation and chill commerce seem to be affected the most. The only exception is healthcare, which is expected to grow due to demand for medicines and vaccinations. Unfortunately, there is no medicine yet, which could defeat the virus.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Bitcoin Infinity Day Study by crypto4me: Bitcoin Is Now Twice as Scarce as Gold

A new crypto4me study points that Bitcoin’s stock-to-flow ratio...

Walmart’s Quarterly Profit Falls, US Growth Lags Behind Expectations

American retail company Walmart saw its net profit drop...

CoinGate vs Bitget Wallet Review 2026: Fees, Crypto Payments and Which Service Makes More Sense

Cryptocurrency payments are gradually moving from a niche blockchain...

Xiaomi’s quarterly profit falls due to rising memory chip costs

Chinese technology company Xiaomi's net profit fell by one-fifth...

US Stocks Decline Following Trump’s Remarks on Not Extending Iran Deal

U.S. stocks weakened today. This happened after President Donald...

The price of gold continues to rise, up 11 percent from this year’s low

The price of gold continues to rise, building on...
spot_img

spot_imgspot_img