Global markets continued to plunge on Monday, with stocks across Asia sliding sharply in early trading.
Investors’ concerns over China’s slowdown and a souring view of once-favored emerging economies have rattled financial markets around the world in recent days, and showed no signs of letting up on Monday.
The selling accelerated in China’s stock markets, which have slumped in recent weeks despite extraordinary government intervention to prop up prices. The main Shanghai share index was more than 8 percent lower by late morning, erasing its gains so far this year. In Hong Kong, the Hang Seng Index was down nearly 5 percent.
The gloom was shared across the region. In Japan, the Nikkei 225 stock average was more than 3 percent lower by late morning, while Australia’s main index was down almost 4 percent at midday.
Most Asian currencies fell against the dollar, including the Malaysian ringgit, which plunged about 2 percent in morning trading. The yen, considered a regional haven currency, rose against the dollar for the fourth day in a row. Full story...
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Investors’ concerns over China’s slowdown and a souring view of once-favored emerging economies have rattled financial markets around the world in recent days, and showed no signs of letting up on Monday.
The selling accelerated in China’s stock markets, which have slumped in recent weeks despite extraordinary government intervention to prop up prices. The main Shanghai share index was more than 8 percent lower by late morning, erasing its gains so far this year. In Hong Kong, the Hang Seng Index was down nearly 5 percent.
The gloom was shared across the region. In Japan, the Nikkei 225 stock average was more than 3 percent lower by late morning, while Australia’s main index was down almost 4 percent at midday.
Most Asian currencies fell against the dollar, including the Malaysian ringgit, which plunged about 2 percent in morning trading. The yen, considered a regional haven currency, rose against the dollar for the fourth day in a row. Full story...
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