For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

China Shuts Markets After CSI 300 Plunges 7%; Asian Markets Nosedive

|

China shut its stock exchanges for the second time this week, as the CSI 300 plunged more than 7 per cent. Circuit filters were reached at near 10.00 am local time.

If the CSI breaches 5 per cent, then trading is halted for 15 minutes and after a 7 per cent fall, trading is stopped for the day.

China Shuts Markets After CSI 300 Plunges 7%; Asian Markets Nosedive
China has been slowing down and investors are worried that a crash landing in the country, could spark a fresh round of selling across global markets.
 

On Thursday, authorities lowered the central rate of China's yuan currency by 0.51 percent to 6.5646 against the US dollar, AFP reported

On Wednesday's Caixin non-manufacturing Purchasing Managers' Index (PMI), a measure of activity for the services sector, showed a slowdown in the pace of growth.

To compound worries crude oil slumped to a new 11 year low on inventories build-up. Analysts now fear that crude oil could hit $30 per barrel rather easily.

Asian markets retreated following the Shanghai news with the Hang Sang down 2.33 per cent and the Japanese Nikkei and the Singapore Strait Times were down 2 per cent each.

GoodReturns.in

Read more about: china pmi
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more