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December 2018
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Monday, 08 October 2018 11:00

Chinese stocks slump

Chinese stocks slump

Chinese stocks tumbled as the nation’s markets resumed trading, putting them on course for their worst performance after the week-long October holiday since 2008. The yuan dropped with bond futures, Caspian Energy News (www.caspianenergy.net) reports with reference to Bloomberg.

The CSI 300 Index slid 3.6 percent as of the mid-day break, led lower by tech companies, after Hong Kong equities tumbled last week. China’s currency fell as much as 0.5 percent against the dollar to its weakest since mid-August. Futures on 10-year sovereign bonds dropped 0.2 percent.

Foreign investors dumped 6.8 billion yuan ($986 million) worth of A shares via the stock connects as of mid-day break, Bloomberg calculations based on daily trading turnover showed, set for the biggest net sale since Feb. 6.

More details: https://www.bloomberg.com/news/articles/2018-10-08/china-traders-digest-pboc-cut-last-week-s-turmoil-after-holiday?srnd=premium-europe

Person in charge of the newsline: Olga Nagiyeva 

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