Coronavirus :
Chinese officials tried to reassure the nation about food and medical supplies, and a meeting of top Communist Party officials called the situation “a major test of China’s system.”
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| Coronavirus ,Coronavirus in china |
Stocks in China fell about 8 percent in Monday trading as investors returned from a long holiday to the prospect of the world’s No. 2 economy virtually being shut down by the coronavirus epidemic. The markets had been closed since Jan. 23 for the Lunar New Year holiday.
Other markets in the region were also trading in the red. Shares in Tokyo finished the day down nearly 1 percent, while in Australia they closed down 1.3 percent. Stocks in Hong Kong opened down, but later pared those losses and were flat.
The market damage could be confined to Asia. European markets started the week in positive territory, and futures trading that predict the performance of stocks in the next day forecast a positive opening for Wall Street.
Separately, China’s central bank moved to pump $173 billion into its financial system on Monday in an emergency move to help government efforts to contain the coronavirus outbreak.
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