Corona Virus Now Plague on the Stock Exchange; Nearly 4,000 Shares of 'Fire' on the China Stock Exchange

News24xx.com - China's stock market is having a bad day this year. In the mid-trade, the Shanghai Composite Index was down by 9%.

A total of 3,257 shares were affected by the correction due to massive sales by market players, which finally hit the auto-reject. Worse yet, the massive selling action was carried out directly since the opening of the trade.

From around 4,000 shares on the Shanghai Stock Exchange, only 162 can strengthen. The rest weakened, and 3,257 shares were forced to stop trading.

"This sell-off is very fast and repetitive," said one market participant on the Shanghai Stock Exchange as quoted by the BBC on Monday (3 February 2020).

Today is the first day of the China Stock Exchange selling after the long Chinese New Year holiday. Unfortunately, shortly after opening, the Shanghai Composite Index dropped to 9%.

Retail stocks suffered the deepest correction, followed by manufacturing, consumer and basic materials.

While the share of medical devices jumped, benefiting from the current situation. The Chinese government says it has injected aid for companies on the capital market.

The funds are injected into the market through a reverse repo operation on Monday.

The plan was carried out so that the stock market did not experience a severe correction in the midst of the Corona outbreak. Unfortunately, the market did not respond positively to the injection, the proof was the index immediately fell.

The People's Bank of China (PBOC) said it had prepared a liquidity fund worth 1.2 trillion yuan or $173.8 billion or equivalent to Rp 2,363 trillion (exchange rate of IDR13,600).

 

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