Monday, October 8, 2018

Chinese Stock Market Falls Almost 5% In Market Bloodbath

A man at a brokerage house in Shanghai in 2010. REUTERS

Insider: Chinese stocks fall almost 5% in market bloodbath as investors digest a week of bad news in a single day

  * Chinese stocks plunged Monday, with the China A50 index losing more than 4.8% in trading.
  * A weeklong holiday for Chinese markets meant investors had an entire five days of news and data to digest in just one session, including an escalation of the trade war between China and the US.
  * News also emerged over the weekend that China's central bank would cut the required reserve ratio for Chinese banks by 1%.

Chinese stocks took a hammering Monday as traders returned to work after a weeklong holiday in the world's second-largest economy.

Losses on major indexes in mainland China were as high as 4.8% in a major market rout, with the China A50, which includes major companies from both the Shenzhen and Shanghai indexes, as the biggest loser. The Shanghai Composite lost 3.7% of its value, while the Shenzhen Composite was down just over 4% at the close of the day's trading.

The reasons behind the crash are numerous but include Chinese investors' catching up to their Asian counterparts after a week of losses in Hong Kong, Japan, and South Korea.

Read more ....

Update: China shares tumble, central bank's move to aid economy shrugged off (Reuters)

WNU Editor: This has been a horrible year for those who have investments in China's stock market, and with U.S. tariffs on the way, it is going to get worse. One more reason on why today's meeting between US Secretary of State Pompeo and Chinese Foreign Minister Wang Yi was tense today .... U.S. Secretary Of State Pompeo And His Chinese Counterpart Trade Harsh Words In Beijing.

6 comments:

Anonymous said...

So does this mean America is great again?

Anonymous said...

As one Anon to another... stop acting obstinate. It doesn't make you look clever.

Blackdog said...

I agree with Anon 2. How about this. So does this mean that President Trump’s tariff policy is working? Will the Chinese be forced to change to economic policy?

Anonymous said...

I called it almost a year ago and pulled most of my money by February (took some time - I started last year already).. if you still have money in China you're a fool

Mike Feldhake said...

Yes it does! And China is changing if you read the news. Xi looks inwards for Ag to grow crops needed for China...

Anon #87 said...

" Anonymous said...

I called it almost a year ago and pulled most of my money by February (took some time - I started last year already).. if you still have money in China you're a fool

October 9, 2018 at 1:03 AM "

I know one foolish co-worker here in America that has most of his life savings in various Chinese interests and even the money market.
He's a PantiFa ( AntiFa ) supporter who's all in for "Change " , so I'd have to have a heart of stone, not to laugh.