The trading floor of the Shanghai Stock Exchange in Shanghai Photo: CFP

Chinese stocks edged up on Tuesday morning, following a Monday that sent overseas markets into another day of steep selloffs, a hint showing that China might be the only major global stock market to have a bullish year ahead amid a sliding world economy, as the coronavirus epidemic fades gradually and the government rolls out investment plans to bolster the economy, experts said. 

By 11:30 am on Tuesday morning, following a grim day for US and European stock markets, the Shanghai Composite Index was up 0.62 percent to 2,961.54 points and the Shenzhen market was up 0.88 percent to 11,206.56 points. 3D sensing shares led the rally. 

The Chinese markets saw a deep decline on Monday, with the Shanghai market falling 3.01 percent and the Shenzhen market plummeting 4.09 percent.

"The Chinese stock markets in recent days have been more or less infected with the panic in overseas markets over coronavirus developments, but such influence will gradually fade," Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times. 

On Monday, the US Dow Jones plunged by nearly 8 percent, or more than 2,000 points, marking its largest one-day point loss on record. The S&P 500 also saw its biggest drop since December 2018, with a decline of 7.6 percent.

In the UK, almost £125 billion ($163.75 billion) was wiped off the value of the FTSE 100, the index of leading UK company shares, as it plummeted by 7.7 percent to finish the day below 6,000 points, the Guardian reported. 

"I think the overseas markets have already become bear markets, as investors see high chances for massive coronavirus breakouts in some of those countries because of insufficient prevention and control measures," Xi said.

For China, however, the peak of coronavirus development has already passed and there are more and more signs that the disease is coming under check, analysts said. 

The government's announcement of trillions of yuan worth of infrastructure investment has also shored up market expectation that economy will be back on track after the first quarter, Xi said, adding that he insisted Chinese stock markets can maintain a bullish trend this year.