This study explores the contrasting impacts of the COVID-19 pandemic on various industries in Australia. Considering all daily announced information, we analyzed the diverse impacts of COVID-19 on the sectoral stock returns from 26 January to 20 July 2020. Sixteen out of twenty examined stock indices negatively react to the daily rise in COVID-19 confirmed cases. Several actions from the Australian government to control the pandemic are relatively ineffective in boosting the overall financial market; however, some positive interactions are captured in five sectors of industrials, health care, metals and mining, materials, and resources. The result shows that all industries that benefited from government financial assistance are either shielded or less severely affected by the pandemic. While sectors that did not directly receive financial remedies relatively showed no enhancement in their overall performance. Having achieved short-term success in helping the economy, the government recorded an all-time high deficit since 2004 that might eventually lead to adverse effects on the overall economy. The Australian equity market is found to be rationally distinct to the crude oil price risk, while positive correlations between AUD/USD rate and real estate-related sectors are reported.

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COVID-19大流行期间的部门绩效和政府干预：澳大利亚的证据

这项研究探讨了COVID-19大流行对澳大利亚各行各业的不同影响。考虑所有每日公布的信息，我们分析了2020年1月26日至2020年7月20日COVID-19对部门股票收益的各种影响。在20个被检查的股指中，有16个对COVID-19确认病例的每日上升产生负面反应。澳大利亚政府控制流感大流行的几项措施在促进整个金融市场方面相对无效。但是，在工业，医疗保健，金属和采矿，材料和资源这五个领域中都取得了一些积极的互动。结果表明，所有受益于政府财政援助的行业都受到了大流行的屏蔽或受到的影响较小。虽然没有直接获得财务救济的行业相对而言没有表现出整体绩效的提高。在帮助经济方面取得了短期成功之后，政府自2004年以来出现了历来最高的赤字，这最终可能对整体经济造成不利影响。发现澳大利亚股票市场与原油价格风险有合理的区别，而据报道，澳元/美元汇率与房地产相关行业之间存在正相关关系。