Monday, 30 November 2015

Chinese stocks plunge, then recover

China's stock market recovered from early losses on Monday to finish with a slight gain.

After falling 5.5 percent on Friday, the Shanghai Composite Index kicked off the new week with another plunge, losing as much as 3.2 percent during the session.

However, the losses were erased late in the session. The Shanghai Composite Index ended up 0.3 percent.

Most other Asian stock markets also fell on Monday. Japan’s Topix index fell 0.9 percent, the KOSPI index in Seoul plunged 1.8 percent and Australia’s S&P/ASX 200 Index declined 0.7 percent.

The falls on Monday followed a report on Sunday that China’s Citic Securities Co., Haitong Securities Co. and Guosen Securities Co. are being probed for alleged breaches of rules on margin and short-selling contracts.

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