Monday, 16 January 2017

Shenzhen index plunges

Stocks fell in China, with the country's second-largest equity market plunging the most in 10 months, although a rebound late in the day limited losses.

Bloomberg reports:

The Shenzhen Composite Index sank as much as 6.1 percent, the biggest loss since Feb. 29, with at least 80 stocks falling by the 10 percent daily limit. The Shanghai Composite Index dropped as much as 2.2 percent in minutes before paring losses...

The Shenzhen gauge trimmed declines to 3.6 percent at 2:56 p.m. local time, while the Shanghai Composite was down 0.4 percent in a fifth day of losses -- its longest losing streak since August 2015.

The report added that the Shenzhen index has lost 11 percent since foreign investors were allowed to buy the city’s shares through an exchange link with Hong Kong last month.

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