Arab Today, arab today china stocks plunge on monday
Last Updated : GMT 16:52:01
Arab Today, arab today
Arab Today, arab today

China stocks plunge on Monday

Arab Today, arab today

Arab Today, arab today China stocks plunge on Monday

China stocks
Beijing - XINHUA

Chinese shares continued to head south on Monday after weak economic data released over the weekend, with the benchmark Shanghai Composite Index dipping 2.67 percent to end at 3,114.80 points.

The Shenzhen Component Index lost 6.55 percent to close at 9,778.23 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 7.49 percent to close at 1,906.21 points.

Despite government reassurance about continued stabilization of the market, concerns remain over lingering downward pressure in the economy.

China's value-added industrial output expanded 6.1 percent year on year in August, the National Bureau of Statistics (NBS) said on Sunday. The growth rate was up slightly from 6 percent in July, but still fell short of market expectations.

Fixed-asset investment grew 10.9 percent year on year in the first eight months, retreating from the 11.2 percent registered in the first seven months, NBS data showed.

China will continue its loose monetary policies while improving performance in infrastructure and property to help boost the economy, said Qu Hongbin, chief China economist at HSBC.

On Friday, China's securities watchdog, the China Securities Regulatory Commission (CSRC), announced punishments for five brokers for illegal operations. The watchdog will confiscate their illegal profits and fine them.

The benchmark Shanghai Index shed 12.49 percent in August alone, and the market rout since June has already wiped out all of this year's gains, according to a recent report by the fund rating agency Lipper.

Total turnover on the two bourses was 681.06 billion yuan (106.93 billion U.S. dollars) on Monday, up from 516.1 billion yuan on the previous trading day. Losers outnumbered winners 843 to 73 in Shanghai, and by 1,367 to 26 in Shenzhen. More than 1,400 shares fell by the daily limit of 10 percent.

Despite the latest reform moves by the central authority to invigorate state firms, shares related to state-owned enterprises (SOEs) still suffered heavy losses.

The Chinese government will modernize SOEs, enhance state assets management, promote mixed ownership and prevent the erosion of state assets, according to the guideline released on Sunday by the Communist Party of China Central Committee and the State Council,

The authorities have been promoting mergers and acquisitions (M&A) among SOEs. China's two major bullet train makers completed consolidation in the first half of the year, while China Railway Corporation announced an asset reorganization plan with one of its subsidiaries on Sunday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china stocks plunge on monday Arab Today, arab today china stocks plunge on monday

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china stocks plunge on monday Arab Today, arab today china stocks plunge on monday

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday