-
Tips for becoming a good boxer - November 6, 2020
-
7 expert tips for making your hens night a memorable one - November 6, 2020
-
5 reasons to host your Christmas party on a cruise boat - November 6, 2020
-
What to do when you’re charged with a crime - November 6, 2020
-
Should you get one or multiple dogs? Here’s all you need to know - November 3, 2020
-
A Guide: How to Build Your Very Own Magic Mirror - February 14, 2019
-
Our Top Inspirational Baseball Stars - November 24, 2018
-
Five Tech Tools That Will Help You Turn Your Blog into a Business - November 24, 2018
-
How to Indulge on Vacation without Expanding Your Waist - November 9, 2018
-
5 Strategies for Businesses to Appeal to Today’s Increasingly Mobile-Crazed Customers - November 9, 2018
Market turmoil Chinese stocks tumble on weak economic data
“And the economic situation is not good in Europe, either”. The profits of industrial companies shed 8.8 percent to 448.1 billion yuan last month from a year earlier, the National Bureau of Statistics said yesterday.
Advertisement
The Shanghai Composite Index closed 0.3 percent higher at 3,100.76 points, erasing a loss of as much as 1.58 percent in the morning session.
The slump coincided with the performance of emerging markets, with the later plunging toward the lowest level in six years.
Shares of mining giant Glencore have plunged in Hong Kong, dragging the Hang Seng Index nearly three per cent lower as fears over China’s faltering economy sent shockwaves through global markets. The Hang Seng China Enterprise Index, consisting of mainland Chinese H shares listed in Hong Kong, slipped 3% to 9,230.50.
Renminbi rallied to a seven-week high in Hong Kong’s offshore market, with the overnight borrowing rate jumping by a record on signs that China’s central bank was intervening to support the exchange rate, said the agency. Japan’s Topix index lost 0.4% as more than 1,000 of its members traded without the right to receive the next dividend payment.
Advertisement
Elsewhere, Australia’s S&P ASX/200 fell 3.82%, while South Korea’s Kospi was closed for a bank holiday. Stock markets in Singapore, Thailand and Malaysia were slightly down.