the Shanghai Composite Index in China dropped by 8.7 percent. Thus financial markets reacted to the news about the spread of a new form of pneumonia caused in China by 2019 coronavirus-nCoV, according to “Gazeta.ru”.
the Trend is on the decline, according to experts, has affected other markets. In particular, the Shanghai Composite index in Taiwan decreased by 2.8 percent.
Last trading on exchanges in mainland China was held on 23 January, before local New year.
According to associate Professor of American studies, St. Petersburg state University Grigoriy Yarygin, the fall of financial markets is influenced by several factors. In particular, the expert on radio Sputnik stressed that the situation also affects the international panic.
“I think that showed a range of reasons associated with panic and with the objective reaction of the economy to such a “black Swan”, which no one expected. Stock markets are an objective trend of “redness”, – said Yarygin.
the Specialist noted a negative trend in the field of commodity economy. Most severely it has hit the country’s exporters, because in China, the fuel was particularly popular. Now the demand is reduced.
Yarygin explained that there is no immediate measures to remedy the situation.
“In modern conditions it is impossible to prescribe the economy some medicine to stock markets did not react to such failures in the moments of discovery. I think that such a strategy does not exist, though the dependence of different markets from each other and has a long-term form of existence, but the economy has not learned to respond quickly to shocks in this system”, – said the scientist.
the failure of the Chinese exchanges have occurred due to the outbreak of the coronavirus in China. The epicenter of the epidemic was the city of Wuhan in Hubei province. According to the latest data, the number of confirmed cases has exceeded 17 thousand, more than 300 people died.
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