China's Equities Plunge Most in a Month as Volatility Reignites
- 8 years ago
China's stocks tumbled the most in a month as surging money-market rates signaled tighter liquidity and the offshore yuan declined for a fifth day.
The plunge in equities underscores the challenge for China's policy makers as they seek to project an image of stability in the nation's financial markets as the economy slows.
"The market is in a quite fragile state when everyone scrambles for an exit," said Central China Securities Shanghai based strategist Zhang Gang.
The Hang Seng Index lost 1.5 percent at 3:39 p.m. in Hong Kong, while the Hang Seng China Enterprises Index retreated 2.4 percent.
The first indicators for China's economy this month signal its slowdown hasn't bottomed out yet, despite banks extending record new loans in January.
The plunge in equities underscores the challenge for China's policy makers as they seek to project an image of stability in the nation's financial markets as the economy slows.
"The market is in a quite fragile state when everyone scrambles for an exit," said Central China Securities Shanghai based strategist Zhang Gang.
The Hang Seng Index lost 1.5 percent at 3:39 p.m. in Hong Kong, while the Hang Seng China Enterprises Index retreated 2.4 percent.
The first indicators for China's economy this month signal its slowdown hasn't bottomed out yet, despite banks extending record new loans in January.