The Chinese stock exchange started its third trade this week, Wednesday (02/12/2020), in the red zone.
At the opening trade, the Shanghai index fell 0.21% to 2895.56, while the Hang Seng index as the benchmark stock index in Hong Kong rose 0.48% to 27,717.22.
The continued spread of the Corona virus infection again became a factor that triggered selling. on the Chinese stock exchange. Corona virus itself is a virus that attacks the human respiratory system. Symptoms of Corona virus exposure include coughing, sore throat, headache, and fever, as reported by CNN International.
Based in China, cases of Corona virus infection have also been reported in other countries. Reporting from the Johns Hopkins page, until now at least as many as 28 countries have confirmed the occurrence of Corona virus infection in their region.
China, Hong Kong, South Korea, Taiwan, Thailand, the US, Vietnam, France, Germany, the United Kingdom, Nepal and Canada are among the countries that have reported Corona virus infections.
Launch CNBC International, until Monday (02/10/2020) as many as 1,016 people in China have died from Corona virus infection, with the number of cases reaching more than 42,000.
Research from Standard & Poor’s (S&P) says that the Corona virus will cut China’s economic growth by around 1.2 percentage points. So, if China’s economic growth this year is estimated to be at the level of 6%, then the Corona virus will cut it down to 4.8%.
To note, in 2019 Panda’s economy recorded growth of 6.1%, slowing significantly from the previous 6.6% in 2018. CNBC International quoted Reuters as saying, China’s economic growth in 2019 was the weakest since 1990.
“In 2019, consumption accounts for around 3.5 percentage points of China’s economic growth of 6.1%. With an estimated domestic consumption falling by 10%, overall economic growth will decrease by around 1.2 percentage points,” the S&P research wrote. .