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  • fear over the chrono virus triggered a massive drop in Chinese shares the rapid

  • reaction comes after the stock market reopened in that country following the

  • Lunar New Year holiday also young helps us look beyond the digits Chinese

  • thoughts plunged on Monday wiping out hundreds of billions of dollars as

  • investors reacted to the spread of the Korean virus the Shanghai Composite

  • Index shed 7.7% closing at two thousand seven hundred and forty six point six

  • one this marks the biggest drop in over four years and according to calculations

  • by Reuters translates to a loss of nearly four hundred and twenty billion

  • dollars meanwhile the Shenzhen composite index for 8.4 percent ending the session

  • at 1609 this comes despite an attempt by the authorities to keep markets come

  • with a stimulus package of some 174 billion dollars analysts say if the

  • spread of the infectious disease isn't soon contained the shock will spread to

  • other Asian markets the worst case scenario is that this Wuhan coronavirus

  • is rages on and checked like the Ebola crisis in West Africa several years ago

  • then it may take China two or three years to recover and the economy will

  • sing into recession and that will bring down Hong Kong and also Asian economies

  • because China is the big elephant in the room now in South Korea the benchmark

  • Kospi closed the session on Monday at 2118 down 0.01 percent from the previous

  • session japan's Nikkei fell one point zero one percent closing the day at

  • twenty two thousand nine hundred and seventy one meanwhile Hong Kong's Hang

  • Seng Index very 0.35 percent recovering slightly from its losses the previous

  • week investors aren't panicking just yet but as economists predict the fallout of

  • the coronavirus will last longer than the outbreak of SARS in the early

  • noughties Asian markets in the meantime remain

  • under pressure Oh Sooyoung Arirang news

fear over the chrono virus triggered a massive drop in Chinese shares the rapid

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B1 asian index session percent spread chinese

Chinese stocks plunge on fears of coronavirus spread

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    林宜悉 posted on 2020/03/04
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