HONG KONG, China (AFP) — Hong Kong stocks opened sharply lower Friday morning, extending a global sell-off after the European Central Bank painted a dim outlook for the region’s economy, while traders are awaiting a key reading on US consumer prices. The Hang Seng Index fell 1.58 percent, or 346.55 points, to 21,522.50. The Shanghai Composite Index shed 0.76 percent, or 24.77 points, to 3,214.18, while the Shenzhen Composite Index on China’s second exchange slipped […]
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Asia stocks wary as China concerns remain
Asian stocks held near four-year lows and crude oil prices approached a 20 percent drop in less than two weeks as investors worried over the extent of China’s economic slowdown and its impact on emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.4 percent higher but still stood near a four-year low touched on Monday, and was still down more than 8 percent since the start of 2016. It fell 12 percent […]
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 […]
