Shares of China declined because of concerns about the coronavirus
SHANGHAI (Reuters) – Chinese stocks declined on Monday, as a sharp rise in the number of cases of infection with coronavirus in the country and worldwide have raised concerns around the nascent economic recovery.
Chinese investors returned from a long weekend, reacted to signs of a pandemic. The number of victims of coronavirus worldwide exceeded half a million people on Sunday, according to Reuters estimates.
Wall street fell more than 2% on Friday.
The Shanghai Composite index declined 0.61% to 2.961,52 points, while the index of blue-chip CSI300 was down 0.71% to 4.109,72 points.
The financial sector sub-index fell by 1.42%, consumer goods sector was up 0.37%, the property index declined by 1.65%, while healthcare sector increased by 0.5%.
The ChiNext Composite index of startups fell 0.42%.
Leaders of falling were shares of Anhui Xinli Finance Co, China National Medicines Corp and Ningbo Heli Mould Technology Co, which lost 10,02%, 10%, and of 9.97%, respectively.
Hong Kong’s Hang Seng index fell by 1.01% to 24.301,28 points, while the Hang Seng China Enterprises slowed down 0.97% to 9.757,69 points.
(Shanghai Bureau, translated by Olga Deviatiarov. Editor Marina Bobrova)