Coronavirus has almost completely shut down parts of Asia
After an extended Lunar New Year break due to the
coronavirus, Chinese markets reopened in the first week of
February. Despite an injection of $242 billion from the
People's Bank of China to ensure liquidity in the banking
system, Chinese shares suffered a major drop. Although market
confidence levels improved in January after the US and China
signed their phase one trade deal, things aren't looking so
rosy for the next few months as the latter continues to battle
coronavirus across the country.
From retail and travel to transportation and manufacturing,
all sectors of the economy are feeling the knock-on effects.
Further policy initiatives can be expected to help industries
suffering the most heavily.