Chinese stocks posted the biggest drop in six weeks triggered by deepened concerns about the prospect of the government scaling back stimulus.
The Shanghai Composite Index plunged 2.4 per cent to close at 3123, making it 4.5 per cent lower than a week earlier. That would be the worst weekly performance this year.
The samller Shenzhen Component Index tumbled 3.2 per cent to break through the 10,000 mark, the biggest one-day drop in nearly five months. The Chinext Composite index slid 2.8 per cent.
Losses were seen across the board, led by telecom, technology . . .
To continue reading, please subscribe.
We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you.
What you'll get:
- Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
- Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
- Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
- Interviews with China experts. We find you insights you should never miss!
- Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?
Already have an account? Sign In