THE IMPACT OF COVID-19 ON STOCK MARKET PERFORMANCE: EVIDENCE FROM TEN ASIAN COUNTRIES

UNIMAS Review of Accounting and Finance Pub Date : 2022-12-30 DOI:10.33736/uraf.5247.2022

J. Yau, Nurul Izza Abd. Malek

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Abstract

The purpose of this study is to examine the effect of COVID-19 on stock market performance from the aspects of stock price volatility and stock market risk in the top GDP10 Asian countries. The dependent variable has been used in this study, which is the stock price volatility and stock market risk, while the independent variable that has been involved in this research is confirmed cases and death cases from COVID-19. In addition, the control variables that will be taken into this study are gross domestic product (GDP) and exchange rate. The study is examined between January 1, 2020 and June 30, 2020. Data were all collected from the source Investing.com, Trading Economies, Worldometer and World Bank. The findings show a significant positive relationship between the impacts of Covid-19 confirmed cases on stock price volatility among the top 10 Asian Country. However, there is an insignificant relationship between the impacts of Covid-19 death cases on stock price volatility among the top 10 GDP Asian Country. Covid-19 confirmed cases and death cases are insignificant on stock market risks among the top 10 GDP Asian Country.

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COVID-19对股市表现的影响:来自十个亚洲国家的证据

本研究的目的是在gdp排名前10的亚洲国家，从股票价格波动和股票市场风险两个方面检验COVID-19对股票市场表现的影响。本研究使用的因变量是股票价格波动和股票市场风险，而本研究涉及的自变量是COVID-19确诊病例和死亡病例。此外，本研究将采用的控制变量是国内生产总值(GDP)和汇率。该研究在2020年1月1日至2020年6月30日期间进行。数据均来自Investing.com、Trading Economies、Worldometer和世界银行。研究结果显示，在亚洲排名前10的国家中，新冠肺炎确诊病例对股价波动的影响呈显著正相关。然而，在GDP排名前10的亚洲国家中，Covid-19死亡病例对股价波动的影响不显著。在国内生产总值排名前10位的亚洲国家中，新冠肺炎确诊病例和死亡病例对股市风险的影响微不足道。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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UNIMAS Review of Accounting and Finance

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