Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

China stocks fall amid fears of global coronavirus contagion

share with twitter share with LinkedIn share with facebook
share via e-mail
02/23/2020 | 11:49pm EDT
An investor looks at an electronic board showing stock information at a brokerage house in Nanjing

Chinese stocks fell on Monday as coronavirus infections and deaths spiked beyond mainland China, offsetting assurances from Beijing that it would step up policy adjustments to help cushion the blow to its epidemic-hit economy.

** At the midday break, the Shanghai Composite index edged down 0.3% to 3,029.22 points, while the blue-chip CSI300 index <.CSI300> fell 0.5%.

** CSI300's financial sector sub-index <.CSI300FS> lost 0.8%, the consumer staples sector <.CSI000912> dropped 1.5% and real estate shares <.CSI000952> slid 1.8%. ** Chinese H-shares listed in Hong Kong lost 1.8% and the Hang Seng fell 1.5% to 26,903.84. ** The smaller Shenzhen index gained 0.9% and the start-up board ChiNext Composite index was up almost 1%. The start-up index is up 25.1% so far this year, benefiting more from lowering financing costs and policy loosening.

** Investor confidence took a hit after South Korea put the country on high alert as the number of infections jumped to over 700 and deaths rose to seven. In Italy, the number of cases jumped to above 150 from just three before Friday.

** Iran, which announced its first infections last week, said it had confirmed 43 cases and eight deaths. Saudi Arabia, Kuwait, Iraq, Turkey and Afghanistan imposed travel and immigration restrictions on the Islamic Republic.

** Sentiment was hurt as the coronavirus outbreak spread outside China, said Linus Yip, analyst with First Shanghai Securities. U.S. and China stock markets giving up some of their recent strong gains could also add pressure on the Hong Kong market.

** Losses were capped in mainland equities as Beijing vowed more support to underpin the economy and as China witnessed fewer new coronavirus cases.

** China will step up policy adjustments to help cushion the blow to the economy from the coronavirus outbreak that authorities are still trying to control, President Xi Jinping was quoted as saying on Sunday.

** China's central bank will take further steps to support the virus-hit economy, including releasing more liquidity and lowering funding costs for companies, a vice governor of the bank told state media.

** Liquidity and policy easing are behind the strong rally in China's start-up companies, the fundamentals of which are not currently justified, said Song Jin, an analyst with Nomura Orient International Securities.

** Mainland China had 409 new confirmed coronavirus cases on Sunday, the National Health Commission said on Monday, down from 648 reported a day earlier.** Around the region, MSCI's Asia ex-Japan stock index <.MIAPJ0000PUS> lost 1.9%, while Japan's Nikkei index <.N225> was down 0.4%. ** The yuan <CNY=CFXS> was 0.08% weaker at 7.0320 per U.S. dollar, as of 0355 GMT. ** So far this year, the Shanghai stock index was down 0.7%, while the CSI300 index was trading 0.8% firmer. Shanghai stocks gained 1.8% so far this month.

(Reporting by Luoyan Liu and Noah Sin, Editing by Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
ANHUI JIANGHUAI AUTOMOBILE GROUP CORP.,LTD. 2.05% 4.97 End-of-day quote.0.61%
HANG SENG -0.20% 23176.99 Real-time Quote.-17.78%
NIKKEI 225 0.01% 17820.19 Real-time Quote.-20.04%
NOMURA CO., LTD. -2.26% 820 End-of-day quote.-3.19%
S&P/CITIC 300 INDEX -0.02% 3251.2 Delayed Quote.-8.46%
S&P/CITIC 50 INDEX -0.02% 3296.2 Delayed Quote.-11.80%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.27% 7.1078 Delayed Quote.2.13%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.13% 7.0907 Delayed Quote.1.73%
US DOLLAR / TURKISH LIRA (USD/TRY) 1.48% 6.7324 Delayed Quote.11.56%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Companies"
11:51aBDX LOSS NOTICE : ROSEN, A LEADING LAW FIRM, Reminds Becton, Dickinson and Company Investors of Important April 27th Deadline in Securities Class Action - BDX
GL
11:32aABU DHABI COMMERCIAL BANK : UAE lender ADCB says seeks joint administrators for NMC Health
RE
11:31aLOBLAW : President's Choice Children's Charity funds $10 million response to vulnerable kids missing school-based hunger programs due to COVID-19 closures
AQ
11:31aLOBLAW : provides $5 million donation to get food and health essentials to Canada's most vulnerable
AQ
11:26aCANADIAN TIRE : Stores in Ontario Restricted to eCommerce and Curbside Pick Up
AQ
11:15aBRITISH AMERICAN TOBACCO : Big Tobacco Joins Race for Coronavirus Vaccine
DJ
11:05aBRITISH AMERICAN TOBACCO : BAT South Africa urges government to lift cigarette sale ban
RE
10:19aKessler Topaz Meltzer & Check, LLP Reminds Inovio Pharmaceuticals, Inc. Investors of Important Deadline in Securities Fraud Class Action Lawsuit
GL
09:38aFUJIFILM : Japan eyes tripling Avigan drug stockpile to fight coronavirus
AQ
09:15aDEUTSCHE LUFTHANSA AG : Chief Financial Officer Ulrik Svensson resigns for health reasons
EQ
Latest news "Companies"