Investor attention and the COVID-19 concept stocks in China's stock market

Purpose This paper investigates the impact of investor attention on the COVID-19 concept stocks in China's stock market from the perspectives of the macroeconomy, the stock market and the COVID-19 pandemic. Design/methodology/approach On the basis of controlling the time effects and individual fixed effects, this paper studies the impact of investor attention on the COVID-19 concept stocks in China's stock market through a set of fixed effect panel data models. Among them, investor attention focuses on macroeconomy, stock market and the COVID-19 pandemic, respectively, while stock indicators cover return, volatility and turnover. In addition, this paper also examines the heterogeneity influence of investor attention on the COVID-19 concept stocks from the perspective of time and stock classification. Findings Findings indicate that the attention to macroeconomy does not have a statistically significant effect on the return, unlike the attention to stock market and COVID-19 incident. Three types of investor attention have significant positive effects on the volatility and turnover rate. During the outbreak of the domestic epidemic, the impact of investor attention was significantly higher than that during the outbreak of the epidemic overseas. A finer-grained analysis shows that the attention to stock market has significantly increased the return of preventive type and treatment type stocks, while diagnostic-related stocks have been most affected by the attention to COVID-19 incident. Research limitations/implications The major limitation of this work is the construction of investor attention. Although Baidu index is widely used, investor attention can be assessed more accurately based on more unstructured data. In addition, the effect of the COVID-19 can also be investigated in a longer time domain. Further research can be combined with the dynamics of the COVID-19 pandemic to more comprehensively evaluate its impact on the stock market. Originality/value The research proves that investor attention plays an important role in stock pricing and provides empirical evidence on the behavioral foundations of the conceptual sector of the stock market under uncertainty. It also has practical implications for regulators and investors interested in conducting accurate asset allocation and risk assessment.

Cytokine levels in sputum, not serum, may be more helpful for indicating the damage in the lung and the prognosis of severe COVID-19 - A case series.

PURPOSE: To describe the relationship between the severity of lung damage and cytokine levels in sputum, bronchoalveolar lavage fluid (BALF), serum. METHOD: Eight severe patients infected with coronavirus disease 2019 (COVID-19) were admitted and their cytokines and chest computed tomography (CT) were analyzed. RESULTS: Compared with in serum, IL-6 and TNF-α in sputum and in BALF show more directly reflect the severity of COVID-19 critical patients. The gradient ratio of IL-6 levels may predict the prognosis of severe patients. CONCLUSION: Cytokine levels in the sputum may be more helpful for indicating lung damage. Local intervention through the respiratory tract is expected to benefit patients with severe COVID-19.

COVID-19 patient with an incubation period of 27 d: A case report.

BACKGROUND: As a highly contagious disease, coronavirus disease 2019 (COVID-19) is wreaking havoc around the world due to continuous spread among close contacts mainly via droplets, aerosols, contaminated hands or surfaces. Therefore, centralized isolation of close contacts and suspected patients is an important measure to prevent the transmission of COVID-19. At present, the quarantine duration in most countries is 14 d due to the fact that the incubation period of severe acute respiratory syndrome coronavirus type 2 (SARS-CoV-2) is usually identified as 1-14 d with median estimate of 4-7.5 d. Since COVID-19 patients in the incubation period are also contagious, cases with an incubation period of more than 14 d need to be evaluated. CASE SUMMARY: A 70-year-old male patient was admitted to the Department of Respiratory Medicine of The First Affiliated Hospital of Harbin Medical University on April 5 due to a cough with sputum and shortness of breath. On April 10, the patient was transferred to the Fever Clinic for further treatment due to close contact to one confirmed COVID-19 patient in the same room. During the period from April 10 to May 6, nucleic acid and antibodies to SARS-CoV-2 were tested 7 and 4 times, respectively, all of which were negative. On May 7, the patient developed fever with a maximum temperature of 39℃, and his respiratory difficulties had deteriorated. The results of nucleic acid and antibody detection of SARS-CoV-2 were positive. On May 8, the nucleic acid and antibody detection of SARS-CoV-2 by Heilongjiang Provincial Center for Disease Control were also positive, and the patient was diagnosed with COVID-19 and reported to the Chinese Center for Disease Control and Prevention. CONCLUSION: This case highlights the importance of the SARS-CoV-2 incubation period. Further epidemiological investigations and clinical observations are urgently needed to identify the optimal incubation period of SARS-CoV-2 and formulate rational and evidence-based quarantine policies for COVID-19 accordingly.

Effect of Recombinant Human Granulocyte Colony-Stimulating Factor for Patients With Coronavirus Disease 2019 (COVID-19) and Lymphopenia: A Randomized Clinical Trial.

Importance: Lymphopenia is common and correlates with poor clinical outcomes in patients with coronavirus disease 2019 (COVID-19). Objective: To determine whether a therapy that increases peripheral blood leukocyte and lymphocyte cell counts leads to clinical improvement in patients with COVID-19. Design, Setting and Participants: Between February 18 and April 10, 2020, we conducted an open-label, multicenter, randomized clinical trial at 3 participating centers in China. The main eligibility criteria were pneumonia, a blood lymphocyte cell count of 800 per µL (to convert to ×109/L, multiply by 0.001) or lower, and no comorbidities. Severe acute respiratory syndrome coronavirus 2 infection was confirmed with reverse-transcription polymerase chain reaction testing. Exposures: Usual care alone, or usual care plus 3 doses of recombinant human granulocyte colony-stimulating factor (rhG-CSF, 5 µg/kg, subcutaneously at days 0-2). Main Outcomes and Measures: The primary end point was the time from randomization to improvement of at least 1 point on a 7-category disease severity score. Results: Of 200 participants, 112 (56%) were men and the median (interquartile range [IQR]) age was 45 (40-55) years. There was random assignment of 100 patients (50%) to the rhG-CSF group and 100 (50%) to the usual care group. Time to clinical improvement was similar between groups (rhG-CSF group median of 12 days (IQR, 10-16 days) vs usual care group median of 13 days (IQR, 11-17 days); hazard ratio, 1.28; 95% CI, 0.95-1.71; P = .06). For secondary end points, the proportion of patients progressing to acute respiratory distress syndrome, sepsis, or septic shock was lower in the rhG-CSF group (rhG-CSF group, 2% vs usual care group, 15%; difference, -13%; 95%CI, -21.4% to -5.4%). At 21 days, 2 patients (2%) had died in the rhG-CSF group compared with 10 patients (10%) in the usual care group (hazard ratio, 0.19; 95%CI, 0.04-0.88). At day 5, the lymphocyte cell count was higher in the rhG-CSF group (rhG-CSF group median of 1050/µL vs usual care group median of 620/µL; Hodges-Lehmann estimate of the difference in medians, 440; 95% CI, 380-490). Serious adverse events, such as sepsis or septic shock, respiratory failure, and acute respiratory distress syndrome, occurred in 29 patients (14.5%) in the rhG-CSF group and 42 patients (21%) in the usual care group. Conclusion and Relevance: In preliminary findings from a randomized clinical trial, rhG-CSF treatment for patients with COVID-19 with lymphopenia but no comorbidities did not accelerate clinical improvement, but the number of patients developing critical illness or dying may have been reduced. Larger studies that include a broader range of patients with COVID-19 should be conducted. Trial Registration: Chinese Clinical Trial Registry: ChiCTR2000030007.

Micro-macro dynamics of the online opinion evolution: An asynchronous network model approach

This article investigates the complex relationship between endogenous and exogenous, deterministic and stochastic stimulating factors in public opinion dynamics. An asynchronous multiagent network model is proposed to explore the interaction mechanism between individual opinions and the public opinion in online multiagent network community, including both the micro and the macro patterns of opinion evolution. In addition, based on random network models, a novel algorithm is provided for opinion evolution prediction. The model property analysis and numerical experiments show that the proposed asynchronous multiagent network model can assimilate and explain some interesting phenomena that are observed in the real world. Further case studies with numerical simulation and real-world applications confirm the feasibility and flexibility of the proposed model in public opinion analysis. The results challenge the common perception that mass media or opinion facilitators play the fundamental role in controlling the development trends of public opinion. This study shows that the formation and evolution of public opinion in the presence of opinion leaders depend also on an individual's emotional inertia and conformity pressures from peers in the same topic group.