Around the world, the Coronavirus outbreak created various problems. The world’s largest second and third economies are in Asia, for instance. In this situation, it is no alert that the ongoing coronavirus outbreak had a significant impact on the stock markets.
Asia Pacific markets traded mixed on Monday, as investors are closely monitoring the situation to access the economic impact of the virus. The number of infected surpassed 70,000, unfortunately.
Mainland Chinese stocks strengthened their positions, despite the problems. The Shanghai Composite increased 2.28% to 2.983.62. Meanwhile, the Shenzhen composite raised with 3.18% to 1,835.96. Nevertheless, the Shenzhen component rose from 2.98% to 11,241.50.
During the final hours of trading, Hong Kong’s Hang Seng index gained 0.58%.
Stock indexes failed to deal with problems in Japan. The benchmark Nikkei 225 decreased by 0.69% to 23,523.24. Moreover, the Topix index fell 0.89% to 1,687.77. The Japanese economy, in the late 2019, shrank at an annualized pace of 6.3%, based on the government’s data.
The ASX 200 index, in Australia, closed fractionally lower at 7,125.10.
South Korea’s Kospi Index declined 0.06% to 2,242.17.
Authorities of China try to minimize the damage to the economy. China plans to target tax cuts. Moreover, the government will most probably increase spending to stabilize the situation.