CORONAVIRUS IN CHINA INFLUENCED THE STOCK MARKET EXCHANGE




Aslıhan DOĞRU -TDO- Due to new year holidays and corona virus outbreak, markets closed for 10 days in China, reopened today with a sharp fall of 9 percent.

The fall experienced was the highest daily loss in 2015 after the fall in the bubble of assets.

More than 2,600 shares fell, above the 10 percent limit.

China's benchmark iron ore contracts fell by 8 percent, the limit rate, while Copper, crude oil and palm oil fell at the highest levels allowed.

The shares of telecoms, technology and commodities were the stocks that lost the most value.

The Chinese currency Yuan, also lost more than 1 percent against the dollar, and the Yuan/Dollar rate exceeded 7 percent, the critical level.

The Central Bank of China also lowered short-term interest rates by 10 basis points to ease markets. The bank also injected $129 billion (900 billion Yuan) of liquidity in to the market.


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