Almost every business has suffered due to the lockdown and quarantine. However, Asian stock markets are seeing an unusual rise even during the coronavirus pandemic. Local stock markets of Japan and South Korea continue to gain immensely.
The Korean Kospi index was already at 9 percent in January 2020 whereas Japanese Nikkei has regained its coronavirus losses. The US stock markets have a similar situation where the stock markets have not reacted to the virus as they did when the outbreak happened in early 2020.
Hong Kong and its stock market is another example of market retention. The Hang Seng index closed on almost 11 percent lower than on Jan 2, the first trading day of 2020, despite the country embarked in a fight for independence with China.
In early July, the stock market levels have also increased in the Chinese market compared to January. The number of cases has been the most stable which has impacted the market quite substantially. Yesterday, the first batch of companies debuted on Shenzhen overhauled Nasdaq-style ChiNext index and were overrun with investors.
Take a look at the following infographic indicating the key Asian stock markets gaining despite coronavirus concerns.
Infographic by: statista