Trading on Shanghai and Shenzhen Exchanges on Second Day in a Row Ended with an Increase in Quotations
The Shanghai Composite Index, reflecting the situation on the Shanghai Stock Exchange, rose 1.25% by the close of trading, to 2818.09 points. Quotes rose across the entire spectrum of blue chips. Most strongly rose shares of pharmaceutical companies. The corresponding composite index jumped 4.71%.
February 3 was the first day of mainland China's stock markets after the Chinese New Year holiday on January 24. Experts associated the collapse of quotes after the resumption of trading with the concerns of market participants regarding the negative impact of coronavirus on the business environment.
Due to the outbreak of the disease during the New Year holidays, the volume of passenger transportation by land and air has noticeably decreased, sales in retail chains have fallen, companies related to the service sector in China have suffered losses.