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1.Market Observations, 8.Was Sticky

4 Feb 2020 (AFR) – Coronavirus: China stocks fall 8pc as markets reopen on virus fears

(4 February 2020, AFR, p1, Michael Smith and William McInnes)

Shanghai/Sydney | Chinese stocks had their biggest fall in four years on Monday when markets reopened for the first time since the deadly coronavirus spread throughout the country as fears grew about the long-term damage the outbreak will have on the world’s second-largest economy. A record 1.2 trillion yuan ($258 billion) injection of liquidity into financial markets by China’s central bank failed to calm the country’s millions of retail investors, many who remained cooped up at home trading online as the virus spreads. As the death toll from the respiratory virus rose to 361 and spread to 23 other countries, China’s biggest stock market fell more than 8 per cent as investors played catch up on news which has already rattled markets in Australia and around the globe.’

Read more at AFR.com (might need AFR login access)

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