February 2020 | Aluminium Weekly Market Tracker
China's stock market plunged on Monday: Market Summary and Analysis
While it is too early to say how the virus outbreak will unfold, we believe there are some early concerns and observations.
China's stock market plunged on Monday Stealing focus in the financial markets on the morning of Monday February 3 was the plunge in Chinas Shanghai Composite Index, dropping by nearly 9% earlier in the day before recovering somewhat to close down by 7.7%. It was widely expected to see an aggressive decline once Chinese participants returned to the market after an extended Lunar New Year holiday, prompted by the outbreak of a deadly coronavirus in the country. A demand shock in China While it is too early to say how the virus outbreak will unfold, we believe there are some early concerns and observations. First of all, we believe there will be a demand shock in China as the country's GDP growth will take a hit in at least the first quarter. We understand that shopping malls, restaurants, coffee shops, cinemas and other entertainment places are shut. As a result,...
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