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 (Peer-Reviewed Journal) identifier identifier

  • Publication Type: Article / Article
  • Volume:
  • Publication Date: 2020
  • Doi Number: 10.1080/1226508x.2020.1869055
  • Journal Name: GLOBAL ECONOMIC REVIEW
  • Journal Indexes: Social Sciences Citation Index, Scopus, International Bibliography of Social Sciences, Business Source Elite, Business Source Premier, EconLit, PAIS International, Political Science Complete, Public Affairs Index, Sociological abstracts, Worldwide Political Science Abstracts
  • Keywords: Covid-19 pandemic, East Asian countries, main stock exchange indices, quantile regression

Abstract

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.