日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

Equities continue on a roller coaster ride

By Luo Weiteng in Hong Kong and Wang Mingjie in London (China Daily) Updated: 2015-08-26 07:24

Mainland shares fall further as Hong Kong recovers from losses Equities continued their wild swings on Tuesday, with shares falling by another 7.63 percent in Shanghai and bouncing back from losses in Hong Kong.

The benchmark Shanghai Composite Index dropped 244.94 points to close at 2,964.97 on Tuesday and fell below the psychologically important level of 3,000 for the first time since December last year. Nearly 800 stocks fell below the daily 10 percent limit.

Tuesday's decline followed the vast sell-offs in global financial markets, triggered by the 8.49 percent fall on Monday in Shanghai.

The Shanghai Composite Index has declined 42 percent from its closing peak on June 12 and wiped off all gains year to date.

"There are all the usual arguments about the economy slowing and valuations, but the real reason for such a turnaround is sentiment," said Justin Stewart, co-founder of Seven Investment Management LLP, a London-based financial company.

"Confidence has just evaporated. There was no new news, no new key economic data, but the attitude changed. The old line always used to be whether the glass was half full or half empty - for many frightened investors, they felt that the glass had cracked," Stewart told China Daily.

Some economists and analysts even doubt whether the turmoil gripping China's equity markets really reflects the broader condition of the world's second-largest economy.

"The collapse of the equity bubble tells us next to nothing about the state of China's economy," Mark Williams, chief Asia economist at Capital Economics, wrote in a research note.

"In fact, recent data have been more positive than the headlines might suggest, with large parts of the economy still looking strong. Policymakers in China also have the luxury of still being able to loosen policy if necessary," he said.

Though many global bourses are under pressure, Hong Kong managed a smart recovery and pared losses. The benchmark Hang Seng Index, which lost 5.2 percent on Monday, finished 0.72 percent higher at 21,404.96 points after falling more than 0.6 percent in early trade on Tuesday.

Chief Executive Leung Chun-ying cautioned on Tuesday morning that investors should play it safe in the local stock market where external economic downturns could continue to dampen investor sentiment and volatility is apt to be the norm in the short run.

But Leung emphasized he has confidence in Hong Kong's market regulation and the city's stock market regulators will keep a close watch on the market conditions.

As the equity market turmoil across Asia is evoking comparison to the 1997 Asian financial crisis, Leung believed the two situations are by no means comparable since Asian economies have learned the lessons of the 1997 financial crash and governments are more competent in market regulation than they used to be 18 years ago.

Tsang Wing-kin, research director at CSC Securities (Hong Kong) Ltd, warned that the Hong Kong stock market, feeling pressures from a cooling Chinese mainland economy and a correction in US equity markets, can hardly get rid of a weakening trend and is likely to take another stumble in the short term.

Even though Hong Kong stocks still enjoy cheaper valuations, Tsang said it is susceptible to external factors.

As long as Shanghai is in free fall, Hong Kong can not escape the market turmoil next door, because the mainland's largest companies are dual-listed in both locations and any move in the world's second-largest economy will largely change the trajectory of Hong Kong's stock market, he said.

Contact the writers at sophia@chinadailyhk.com and wangmingjie@mail.chinadailyuk.com

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日韩毛片中文字幕 | 免费黄色一级 | 国产无遮挡又黄又爽又色视频 | 亚洲男人的天堂在线观看 | 综合五月 | 久久91久久 | 三级黄色片在线观看 | 国产在线观看你懂的 | 熟女少妇a性色生活片毛片 欧美福利在线视频 | 国产三级在线 | 人人人超碰 | 伊人久久久久久久久久 | 欧美日韩一区在线 | 成人免费av在线 | 四虎影院一区二区 | 蜜桃天堂 | 欧美精品在线视频 | 狠狠躁夜夜躁人人爽天天高潮 | 成年人黄色免费视频 | 亚洲一区二区精品在线观看 | 在线观看免费av网站 | 熟女少妇a性色生活片毛片 欧美福利在线视频 | 亚洲毛毛片 | 99国产精品久久久久 | 毛片综合| 亚洲男女av | 久久久在线免费观看 | 韩国演艺圈悲惨事件在线 | 久久国产免费观看 | 成人免费在线观看网站 | 国产白丝在线 | 久久久久一区二区三区 | 国产精品大全 | 91麻豆精品国产91久久久久久 | 亚洲成人精品在线播放 | 成人免费精品视频 | 亚洲男人天堂2018 | 在线免费观看黄色小视频 | 日韩天堂 | 欧美日韩一级二级 | 国产精品第9页 |