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Main » 2016 » January » 11 » Chinese stocks are beginning a new week down by 5.3%
Chinese stocks are beginning a new week down by 5.3%

After failing the first week of the new year, stocks in China met Monday in the red.



The main index of the country's Shanghai Composite closed 5.3% lower index of Shenzhen Composite fell 6.6%. Failure to start the week that followed the sharp decline in Chinese stocks last week, due to concerns about a slowing economy and weakening of the national currency.

The decline of the Chinese market and shook the world markets: during the first week of 2016 the industrial Dow Jones index fell 1079 points, or more than 6% - the worst five-day start of the year for the index.

Last Monday, when Chinese shares fell by 7%, the authorities decided to stop trading until the end of the session. However, despite the introduction of the procedure stops trading with a sharp change in prices, analysts expect further volatility in the Chinese market.

The decline of the stock market is also due to the falling value of the country's currency, the yuan. In recent weeks, China's central bank was trying to reduce the rate of RMB against the US dollar - a move that many analysts regard as an attempt to boost exports and thus support the economy.

However, the bank's decision has alarmed investors, pushing them to actively sell the currency, believing that the depreciation will continue.

Currency strategists at one of the largest financial conglomerates in the world HSBC claim that the volatility of the yuan will remain high.

A source


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