Its main reference index, the Shanghai Composite Index, has closed the day with a fall of 7.8%, marking minimum levels of almost two months ago.
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After remaining a week closed for the Lunar New Year holiday, the Chinese stock market has sunk on Monday amid the spread of the new coronavirus, which has already claimed the lives of 362 people in Asia, reports Reuters.
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Its main reference index, the Shanghai Composite Index, has closed the day with a fall of 7.8%, marking minimum levels of almost two months ago. Also, the value of yuan it is situated in its lowest level so far this year.
In an attempt to soften the blow in the economy of the Asian country, the Central Bank of China reduced the interest rates of the reverse repurchase agreements by 10 basis points, and injected 173.8 million dollars of liquidity into the markets on Monday .
The coronavirus 2019-nCoV has already claimed the lives of 362 people (361 in China and 1 in the Philippines), while the number of people affected throughout the Asian country amounts to 17,205. On January 30, WHO announced that the disease represents a “public health emergency of international concern.”
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