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Chinese Stocks Enter Bear Market as Trade, Growth Risks Increase


Tuesday, 26 June 2018 14:52 WIB

SahamChinaIndeks Shanghai Composite Indeks CSI


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Chinese stocks fell, with the benchmark gauge entering a bear market, amid growing concern about the country’s resilience to a trade war with the U.S.

The Shanghai Composite Index fell 0.5 percent at the close, taking its loss since a January high to more than 20 percent. Airlines extended a rout as a slumping yuan boosted the cost of their dollar-denominated debt, while property developers also sank.

Investors have largely ignored government measures to support market sentiment, including a weekend reserve-ratio cut and scrutiny on the liquidation of pledged stock, as trade tensions added to concern about Beijing’s deleveraging campaign and weaker-than-expected economic data. The latest stock rout, coming three years after China’s equity bubble burst, has now wiped out $1.8 trillion through Monday since January’s high.

Source : Bloomberg


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