Reaction of US and Chinese Stock Markets to COVID-19 News
The COVID-19 outbreak slowed down global economic activities substantially, resulting in unrest in the financial markets, especially in the beginning of the pandemic outbreak. This study aims to investigate if COVID-19 caused abnormal returns in the US and the Chinese stock markets in the beginning...
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| Formato: | Artigo |
| Idioma: | English English |
| Publicado em: |
Molecular Diversity Preservation International (MDPI)
2023
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| Assuntos: | |
| Acesso em linha: | https://eprints.ums.edu.my/id/eprint/36762/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/36762/2/FULL%20TEXT.pdf |
| _version_ | 1825715330434990080 |
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| author | Hock-Ann Lee Venus Khim-Sen Liew Mohd Fahmi Ghazali Samina Riaz |
| author_facet | Hock-Ann Lee Venus Khim-Sen Liew Mohd Fahmi Ghazali Samina Riaz |
| author_sort | Hock-Ann Lee |
| collection | UMS |
| description | The COVID-19 outbreak slowed down global economic activities substantially, resulting in unrest in the financial markets, especially in the beginning of the pandemic outbreak. This study aims to investigate if COVID-19 caused abnormal returns in the US and the Chinese stock markets in the beginning of the pandemic outbreak. Event study methodology is adopted for this purpose. This study finds that a significant negative impact appeared immediately after the Wuhan lockdown in the Chinese markets, while the US markets were slow to pick up. The former was more severely hurt after lockdown, while the latter was more brutally affected after COVID-19 was labeled a global threat. COVID-19 also played a significant role in connecting these two stock markets. The US and China should collaborate further in combating this novel and notorious global pandemic. |
| first_indexed | 2024-03-06T03:25:14Z |
| format | Article |
| id | ums.eprints-36762 |
| institution | Universiti Malaysia Sabah |
| language | English English |
| last_indexed | 2024-03-06T03:25:14Z |
| publishDate | 2023 |
| publisher | Molecular Diversity Preservation International (MDPI) |
| record_format | dspace |
| spelling | ums.eprints-367622023-09-11T04:32:47Z https://eprints.ums.edu.my/id/eprint/36762/ Reaction of US and Chinese Stock Markets to COVID-19 News Hock-Ann Lee Venus Khim-Sen Liew Mohd Fahmi Ghazali Samina Riaz HG4900-5993 By region or country RA643-645 Disease (Communicable and noninfectious) and public health The COVID-19 outbreak slowed down global economic activities substantially, resulting in unrest in the financial markets, especially in the beginning of the pandemic outbreak. This study aims to investigate if COVID-19 caused abnormal returns in the US and the Chinese stock markets in the beginning of the pandemic outbreak. Event study methodology is adopted for this purpose. This study finds that a significant negative impact appeared immediately after the Wuhan lockdown in the Chinese markets, while the US markets were slow to pick up. The former was more severely hurt after lockdown, while the latter was more brutally affected after COVID-19 was labeled a global threat. COVID-19 also played a significant role in connecting these two stock markets. The US and China should collaborate further in combating this novel and notorious global pandemic. Molecular Diversity Preservation International (MDPI) 2023 Article NonPeerReviewed text en https://eprints.ums.edu.my/id/eprint/36762/1/ABSTRACT.pdf text en https://eprints.ums.edu.my/id/eprint/36762/2/FULL%20TEXT.pdf Hock-Ann Lee and Venus Khim-Sen Liew and Mohd Fahmi Ghazali and Samina Riaz (2023) Reaction of US and Chinese Stock Markets to COVID-19 News. Int. J. Financial Stud, 11. pp. 1-13. https://doi.org/10.3390/ijfs11020059 |
| spellingShingle | HG4900-5993 By region or country RA643-645 Disease (Communicable and noninfectious) and public health Hock-Ann Lee Venus Khim-Sen Liew Mohd Fahmi Ghazali Samina Riaz Reaction of US and Chinese Stock Markets to COVID-19 News |
| title | Reaction of US and Chinese Stock Markets to COVID-19 News |
| title_full | Reaction of US and Chinese Stock Markets to COVID-19 News |
| title_fullStr | Reaction of US and Chinese Stock Markets to COVID-19 News |
| title_full_unstemmed | Reaction of US and Chinese Stock Markets to COVID-19 News |
| title_short | Reaction of US and Chinese Stock Markets to COVID-19 News |
| title_sort | reaction of us and chinese stock markets to covid 19 news |
| topic | HG4900-5993 By region or country RA643-645 Disease (Communicable and noninfectious) and public health |
| url | https://eprints.ums.edu.my/id/eprint/36762/1/ABSTRACT.pdf https://eprints.ums.edu.my/id/eprint/36762/2/FULL%20TEXT.pdf |
| work_keys_str_mv | AT hockannlee reactionofusandchinesestockmarketstocovid19news AT venuskhimsenliew reactionofusandchinesestockmarketstocovid19news AT mohdfahmighazali reactionofusandchinesestockmarketstocovid19news AT saminariaz reactionofusandchinesestockmarketstocovid19news |