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.

摘要

这项研究调查了Covid-19和财务指标是否影响东亚国家的主要证券交易所指数。通过使用分位数回归并比较大流行前和大流行时期来检查由Covid-19，不确定性，波动性，外汇和流动性引起的病例和死亡人数。结果表明：（i）指标具有预期的重大负面影响；（ii）流动性和大流行指标的影响在指数趋势中具有重要意义，而各国之间却有所不同；（iii）变量的影响从低水平到高水平明显不同。