Affect on market because of coronavirus
As equity markets struggle globally following the outbreak of coronavirus , shares of select healthcare and safety product makers from Japan, South Korea and India have been creating a lot of buzz. Japanese firm Kawamoto Corporation, which supplies medical products including masks, is on top, with over five-fold jump in January alone. The scrip jumped 479 per cent to JPY 2,591 on January 29 from JPY 447 on December 30 last year on the Tokyo Stock Exchange. Another Japanese firm Azearth, which is engaged in protective clothing, has rallied 139 per cent during this period. The coronavirus outbreak, which started in the central city of Wuhan late last year, has killed 132 people, and has infected nearly 6,000 in China alone. As f ear of contracting the virus and pollution make mask-wearing the new normal, business is booming for the manufacturers in Asia. Demand for face masks and hand sanitizing liquid has soared, as local residents and visitors to and from ...