How Main Stock Exchange Indices React to Covid-19 Pandemic: Daily Evidence from East Asian Countries

Kartal M. T. , Kılıç Depren S. , Depren Ö.

GLOBAL ECONOMIC REVIEW, 2020 (Journal Indexed in SSCI) identifier identifier

  • Publication Type: Article / Article
  • Volume:
  • Publication Date: 2020
  • Doi Number: 10.1080/1226508x.2020.1869055
  • Title of Journal : GLOBAL ECONOMIC REVIEW
  • Keywords: Covid-19 pandemic, East Asian countries, main stock exchange indices, quantile regression


This study investigates whether the Covid-19 and the financial indicators affect the main stock exchange indices of East Asian countries. Number of cases and deaths caused by Covid-19, uncertainty, volatility, foreign exchanges, and mobility are examined by using Quantile Regression and comparing the pre-pandemic and the pandemic periods. The results shows that (i) the indicators have a significant negative impact as expected; (ii) the impact of mobility and pandemic indicators has significance in the trend of the indices whereas they differentiate among countries; (iii) the impact of the variables is significantly differentiated from the low level to the high level.