Due to the Impact of Novel Coronavirus... Shanghai Composite Index Plunges 8.73% at Opening (Breaking News)

[Asia Economy Reporter Jeong Hyunjin] On the 3rd, the Shanghai Composite Index in China opened at 2716.7, down 8.73% from the previous trading day. The Shanghai Composite Index reopened on this day after the Lunar New Year holiday and plunged due to the impact of the novel coronavirus infection (Wuhan pneumonia). The Shanghai Composite Index had been declining due to the spread of the novel coronavirus last month and fell below the 3000 mark on the 23rd of last month, before the Lunar New Year.

Along with the Chinese stock market, major Asian countries' stock markets are also being hit. As of 10:34 AM on the same day, Japan's Nikkei 225 Index was trading at 22,960.72, down 1.05% from the previous trading day. The TOPIX index was also trading down 0.80% at the same time. The Nihon Keizai Shimbun reported, "Due to concerns that the spread of the novel coronavirus will slow down the global economy, U.S. stock markets and others have plunged," adding that investor sentiment contraction is affecting the stock markets.

South Korea's KOSPI and KOSDAQ indices are also showing a downward trend. As of 10:40 AM on the same day, the KOSPI index was down 0.50%, and the KOSDAQ index was down 0.30% compared to the previous trading day.

This content was produced with the assistance of AI translation services.