Commonground
Senior Moderator
Here are five factors that drag markets:
China's novel coronavirus has not showing any sign of abating as the death toll on February 9 increased to over 900 and the infected cases have risen to more than 40,100 including news 3,062 infected cases and 97 additional deaths, mostly in Hubei province, the starting point for virus.
Globally all analysts and economists remained worried about the fast-spreading virus which forced world's largest consumer market and second largest economy China to shut down several manufacturing plants/units and even services. As a results, the country can't be in a position to export products to the world markets and even lot of countries suspended flights to and from China as the virus already spread to more than dozens of countries including Philippines, India, Thailand, Hong Kong etc.
-snip-
Global Market Fall
The concerns over global growth due to many shut downs in China amid coronavirus crisis dented sentiment across global equities. Asian markets like Japan's Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi were down around half a percent each, while China's Shanghai Composite recovered to end 0.5 percent higher.
On Friday, US markets - Dow Jones Industrial Average was down nearly a percent, while Nasdaq Composite and S&P 500 fell 0.54 percent each.
Recently Goldman Sachs cuts its China's real GDP growth forecast for Q1CY20 to 4 percent from 5.6 percent earlier.
Also the American Chamber of Commerce in Shanghai on Friday said that out of 127 companies surveyed, 87 percent of respondents believe the coronavirus outbreak will have a direct impact on 2020 revenues, with nearly a quarter expecting a decline of at least 16 percent, reports CNBC.
If the virus crisis continues, then the countries which have large imports from China will get affected.
...https://www.moneycontrol.com/news/b...-day-5-factors-that-are-weighing-4925971.html
China's novel coronavirus has not showing any sign of abating as the death toll on February 9 increased to over 900 and the infected cases have risen to more than 40,100 including news 3,062 infected cases and 97 additional deaths, mostly in Hubei province, the starting point for virus.
Globally all analysts and economists remained worried about the fast-spreading virus which forced world's largest consumer market and second largest economy China to shut down several manufacturing plants/units and even services. As a results, the country can't be in a position to export products to the world markets and even lot of countries suspended flights to and from China as the virus already spread to more than dozens of countries including Philippines, India, Thailand, Hong Kong etc.
-snip-
Global Market Fall
The concerns over global growth due to many shut downs in China amid coronavirus crisis dented sentiment across global equities. Asian markets like Japan's Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi were down around half a percent each, while China's Shanghai Composite recovered to end 0.5 percent higher.
On Friday, US markets - Dow Jones Industrial Average was down nearly a percent, while Nasdaq Composite and S&P 500 fell 0.54 percent each.
Recently Goldman Sachs cuts its China's real GDP growth forecast for Q1CY20 to 4 percent from 5.6 percent earlier.
Also the American Chamber of Commerce in Shanghai on Friday said that out of 127 companies surveyed, 87 percent of respondents believe the coronavirus outbreak will have a direct impact on 2020 revenues, with nearly a quarter expecting a decline of at least 16 percent, reports CNBC.
If the virus crisis continues, then the countries which have large imports from China will get affected.
...https://www.moneycontrol.com/news/b...-day-5-factors-that-are-weighing-4925971.html
