DJIA26729.37
LIVE10.24(0.04%)
NDX7723.02
LIVE-5.76(-0.07%)

Chinese Stocks Sink Below Key Level as Investor Concerns Mount


Tuesday, 17 April 2018 14:59 WIB

SahamChina Indeks CSI


c_740_198_16777215_00_images_assets_CHINA_88china_stocks.jpg

A wave of selling swept through China’s stock market for a second day, with the benchmark gauge tumbling below a key level, as the risk of escalating trade tensions and tighter credit hammered investor confidence.

The Shanghai Composite Index fell 1.4 percent to close below 3,100 for the first time in 10 months, with little sign that state-backed funds attempted to save that level. Technology shares plunged after the U.S. banned ZTE Corp. from buying American tech. New China Life Insurance Co. declined for a fifth day to lead financial shares lower amid ongoing speculation the government will lift deposit caps at banks, leading to higher borrowing costs.

After a strong start to the year, the benchmark gauge has tumbled 14 percent from its January high in the world’s worst performance after the Philippines. The slump threatens to mar China’s inclusion into MSCI Inc. indexes in June, with the Shanghai measure falling to its lowest level relative to MSCI’s global gauge since 2014.

Source : Bloomberg


RELATED NEWS

  • Hong Kong shares started the week with small gains Monday, brushing off worries about the brewing US-Iran crisis to focus on upcoming talks between Donald Trump and Xi Jinping. The Hang Seng Index ad...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.