Shanghai and Shenzhen Stock Markets Continued to Fall

The continuing spread of the new coronavirus epidemic in Wuhan set a new case record on the 3rd-as of  Monday, 361 people were known to have died of Wuhan pneumonia in China, which officially exceeded the total SARS deaths in China in 2003. At the same time, the Chinese stock market and other provinces and cities in non-severely controlled epidemic areas also ended the “Spring Festival extended holiday” and returned to work on the 3rd; however, the outbreak of the new coronavirus has not improved, although the People’s Bank of China has announced on the 2nd RMB 1.2 trillion was invested to stabilize the stock market, but the Shanghai and Shenzhen stock markets continued to fall and hit their limits after the market opened. Within 10 minutes of the opening, the Shanghai and Shenzhen 300 Index once again hit a sharp plunge of 9.1%.

On February 3, the state of the epidemic in China of the new coronavirus has publicly confirmed 17,228 cases, of which at least 361 people have died. The relevant death data has exceeded the SARS crisis in 2003. 349 dead.

Although the People’s Bank of China has announced on the 2nd that it will invest 1.2 trillion yuan to stabilize the stock market, the Shanghai and Shenzhen stock markets after the opening are still full …
Although the People’s Bank of China announced on the 2nd that it would invest 1.2 trillion yuan to stabilize the stock market, the Shanghai and Shenzhen stock markets still had their full daily limit after the market opened. Within 10 minutes of the opening, the Shanghai and Shenzhen 300 Index plunged another 9.1%.

At the moment when the epidemic continues to spread, in addition to Hubei, Zhejiang, Guangdong, Fujian, Shanghai, Beijing, etc., the “special epidemic areas” that have postponed resumption of work have been announced in advance; other non-severe provinces and stock markets in China , It has returned to the “starting state” on February 3. However, due to the different regulatory conditions in various places, many enterprises have their own practices between starting, stopping, and working from home, so the state of resumption of work has also become chaotic in various industries.

Although Shanghai and Shenzhen, which are heavily guarded against epidemic diseases, are still in a “downtime state”, the Chinese stock market that has been closed for the Spring Festival since January 23 has been open as usual at 9:30 am on the 3rd-despite the Chinese government’s advancement on the 2nd Announced the injection of 1.2 trillion yuan to stabilize the economy, but the Shanghai and Shenzhen stock market indexes, as expected by the market, “started and collapsed”. The Shanghai and Shenzhen 300 Index even fell 9.1%. “Except for a small number of medical stocks, other stocks fell and fell. . ”

The “epidemic shock” of China’s stock market and economy has also directly affected the stability of Asia and even the world economy. However, in Hong Kong, which was most affected by the Chinese epidemic, there were successive strikes and protests against “poor epidemic prevention” and urging the Hong Kong government to “close China” as soon as possible to stop the spread of the epidemic. Among them were Hong Kong government officials. The “health strike” in the hospital and the “strike in the aviation industry” that is preparing to call an emergency strike conference.

On the 3rd in Hong Kong, there were “medical strikes” at public hospitals and “airlines …
On the 3rd in Hong Kong, there were successive “medical strikes” in public hospitals and “strikes in the aviation industry” which were preparing to call an emergency strike conference.
The strikes brewed by the Hong Kong aviation industry were mainly initiated by the flight crew of Cathay Dragon. According to the union, although Cathay Pacific has significantly reduced its flights to and from China, recent suspected cases of infection have continued to occur in the air service process, causing passengers and crew members to feel distressed. The incident has also continued to seriously damage the reputation and external image of Cathay Pacific Airways.

However, because the Hong Kong government still refuses to close China, and flights between major cities in China are also Cathay Pacific ’s main market, Cathay Pacific has not responded positively to the call for panic at the grassroots level. In view of this, although the Cathay Pacific Dragon Air Force union has stated that “the strike voting process will be started on the 8th,” some excited union members are distrustful of the “procrastination of union cadres”, and even plan for a series of strikes by themselves .

As for the progress of the strike in the medical sector in Hong Kong, negotiations broke down due to the refusal of the Hong Kong Government and Chief Executive Lin Zheng Yue’e to come forward. At present, members of trade unions in major public hospitals in Hong Kong have started the first phase of strikes on the 3rd, and more than 50% of non-emergency surgeries have been cancelled. According to the union, unless the Hong Kong government comes to talks before 18:00 on the 3rd, the Hong Kong medical community will start a general strike from 4 to 7 in accordance with the resolution voted by the union.

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Shanghai and Shenzhen Stock Markets to Fall - /10

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