On Monday, Asian stock markets mostly declined, except for the Japanese indicator Nikkei 225.
Market participants continued to follow the news regarding the extent of the spread of coronavirus and its effects on the global economy.
The Chinese Shanghai Composite Index fell by 3.1%, Hong Kong's Hang Seng Index decreased by 4.9%. The South Korean Kospi indicator lost 5.3%, the Australian S&P/ASX 200 index - 5.6%, while the Japanese index Nikkei 225 added 2.02%.
Chinese economic indicators will likely to show visible improvement in the 2nd quarter of 2020. The country's economy will be able to quickly restore growth potential after a downturn due to the coronavirus pandemic, Chen Yulu, the Deputy Chairman of the People's Bank of China (NBK, Central Bank of the country), said.
As the spread of coronavirus in China has been taken under control and the supply of goods on the market is increasing, inflation in the country will gradually weaken over the next few quarters, he said.
The capitalization of Internet giant Tencent Holdings fell by 3.2% in Hong Kong trading session, while China Mobile shares lost 2.65%. The price of shares of CNOOC and PetroChina, oil producers, fell by 5.05% and 5.7%, respectively.
Shares of the Japanese electronics manufacturer Sony fell by 1.06%, while the price of Panasonic securities rose by 2.94%. The price of securities of telecommunication SoftBank Group jumped by 18.6%.
Capitalization of one of the world's largest chipmakers Samsung (KS: 005930) Electronics Co., decreased by 6.4% by the end of the trading session in Seoul. LG Electronics securities, the consumer electronics maker, lost 7.2%.
The price of shares of the Australian oil company Beach Energy fell by 12%, the shares of the mining company Rio Tinto (LON: RIO) fell by 4%.