The Chinese Stock Market Lost Eight Percent Due to Coronavirus

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The Chinese stock market went red almost eight percent after the delayed reopening. The economy in Hong Kong is also suffering from the spread of the lung virus.

 

Besides, some of the hospital staff have put down the work: they demand a complete closure of the border with China.

The stock markets always close for a week during the Chinese New Year. The intention was that the stock exchanges would open last Friday again, but the reopening was postponed due to the spread of the new coronavirus.

Until today: the Chinese stock markets opened again today and recorded the most significant decline since 2015.

The Chinese National Bank had already anticipated this decline and therefore kept more money available for the financial markets.

Banks received more money and were asked, for example, to lower the interest rates of loans for companies in areas affected by the new coronavirus.

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