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"Consumers setting at home and not out spending money because they fear catching the coronavirus is the ultimate negative outcome," Scott Wren, senior global market strategist at Wells Fargo Investment Institute, said in a research note.

"Compared with its convenience store business, selling automobiles has more added value."

"Compelling evidence now supports the benefits of cloth face masks for both source control (to protect others) and, to a lesser extent, protection of the wearer," it said.

"Competition will create new markets and provide more services. The participation of Chinese SOEs will inject vitality into international markets and result in more opportunities for cooperation with world-class international firms," he said.

"China's economy is also at a crossroads. We could get either sustained growth or massive risks breaking out," Chen said.