Chinese markets continue sliding
Print Edition
China’s stock markets tumbled yesterday, led by losses in the coal sector and light manufacturing, after their deepest weekly dive last week since February.
The Shanghai Composite Index lost 1.49 percent to close at 2,568.1 points and the smaller Shenzhen Component Index slumped 1.51 percent to 7,444.48 points.
Markets fell dramatically last week as emerging markets came under pressure from higher US Treasury yields and a tumble in the US equity market, according to Gao Ting, head of China strategy at UBS Securities.
So far this month, the CSI 300 and the Hang Seng China Enterprises Index are down 9.08 percent and 7.93 percent.
Coal companies were among the biggest decliners — five companies saw their prices fall more than 5 percent. The car sector also weakened.
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