FILE PHOTO: Headquarters of the People's Bank of China , the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo
SHANGHAI - The impact from a virus epidemic on China’s economy will be limited and temporary, and the country’s financial markets will return to normal in the long run, a commentary in a newspaper owned by the central bank said on Monday afternoon. The virus outbreak would not change China’s sound long-term economic fundamentals, the commentary in the Financial News said.
It also said a plunge in the country’s stock markets on Monday was due to some irrational factors, including panic selling triggered by a “herd effect”. Heavy selling wiped $420 million in market capitalization off China’s benchmark stock index at one point on Monday as investors returned from an extended Lunar New Year holiday and dumped shares and commodities on fears about the spreading virus and the potential blow to the world’s second-largest economy.Our Standards:
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Those who build a thousand bed hospital in 10 days can't be shaken by a novel virus. Chinese's resilience is incredibly high.
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Hard to believe this when the PBOC governor is in the Communist Party.
Should that be 420 billion in market capitalization? The article says 420 million.
BaldingsWorld I would say that that goes beyond wishful thinking.
Not if they pay compensation to ALL victims and countries having to deal with this virus, they did not control the live markets they are fully responsible.
Don't hide reality. It will get worse till it infect Xi Jinping itself.
G_Werners mmmm
Orugoangel ov_control dannycbr600 dannycbr600 m
Reuters: But the impact on the rest of the World won't?
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