HONG KONG, China (AFP) — Hong Kong stocks sank more than one percent at the start of business Tuesday after Moody’s cut the city’s credit rating, blaming the government’s response to months of sometimes violent protests. The Hang Seng Index fell 1.20 percent, or 346.53 points, to 28,449.38. The benchmark Shanghai Composite Index lost 0.32 percent, or 10.00 points, to 3,085.79 and the Shenzhen Composite Index, which tracks stocks on China’s second exchange, dropped 0.25 […]
Tag: china stock markets
World markets knocked by uncertainty in China and Greece
(Reuters) World markets were down on Wednesday (July 8) as investors worried about Greece’s debt crisis, a meltdown in Chinese markets and a slump in commodities. Euro zone leaders on Tuesday (July 7) gave Athens until the end of the week to come up with proposals for reforms in return for loans. Without the aid, Greece is likely to crash out of Europe’s single currency bloc. Markey analyst Chris Beauchamp said but a solution […]
China admits there’s market panic
(Reuters) Analyst said on Wednesday (July 8) that the measures taken by Chinese authorities to support its tumbled stock markets were seen as “backsliding” from its greater financial reform. Chinese stocks continued plunging on Wednesday after the country’s securities regulator warned investors were in the grip of “panic sentiment” and the market showed signs of freezing up as firms scrambled to escape the rout by having their shares suspended. “It’s very bad. It could […]
