China halts stock trading in extended Lunar New Year holiday as deadly coronavirus outbreak from Wuhan takes its toll
- The State Council, China’s chief administrative authority, on Monday extended the Lunar New Year holiday by another two working days
- Hong Kong markets will still open as planned on Wednesday, HKEX says
China’s financial regulators will suspend trading on the Shanghai and Shenzhen stock exchanges in an extended halt of one of Asia’s largest capital markets following a deadly viral outbreak.
The Shanghai stock market, which has been shut since January 23, will resume trading on February 3, in keeping with an extended Lunar New Year public holiday ordered by the State Council, according to a statement by the bourse.
The smaller Shenzhen exchange in southern China will observe a similar suspension, according to a source familiar with the matter. Hong Kong’s stock exchange, which lies outside the purview of the CSRC, said it would resume trading on January 29.
The State Council, China’s chief administrative authority, on Monday extended the holiday by another two working days, until February 2.
The Hong Kong stock exchange, meanwhile, said it would cancel a ceremony to mark the first trading day of the Year of the Rat, because of the increasing risk the Wuhan coronavirus outbreak poses. In an emailed statement on Monday, bourse operator Hong Kong Exchanges and Clearing Limited (HKEX) said the stocks and futures markets will open and operate as usual.