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, cilt.50, sa.1, ss.54-71, 2021 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 50 Sayı: 1
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1080/1226508x.2020.1869055
  • Dergi Adı: GLOBAL ECONOMIC REVIEW
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), 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
  • Sayfa Sayıları: ss.54-71
  • Anahtar Kelimeler: Covid-19 pandemic, East Asian countries, main stock exchange indices, quantile regression
  • Yıldız Teknik Üniversitesi Adresli: Evet

Özet

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.