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5 Jan 2016
China stocks on a roller-coaster ride after Monday’s rout
FXStreet (Mumbai) - The stocks on the Chinese bourses witnessed yet another volatile session this Tuesday, extending the global rout from Monday.
The Chinese equities experience wild swings and fluctuates between gains and losses, finally poised for a negative close on the day. Markets ignored the Chinese central bank’s (PBOC) moves to stabilize the domestic equities. The PBOC poured nearly $20 billion into money markets, its largest cash injection since September. While a weaker yuan midpoint set by the bank at 6.5169 today, also failed to lift the sentiment.
Towards the closing hours, the benchmark Shanghai Composite (SSEC) falls -0.54% and trades around 3,280 versus -1.50% drop seen over the last hours. While Hong Kong’s, the Hang Seng trades -0.73% lower at 21,169. China’s A50 index gains +0.70% to 10,173 versus -0.40% slide seen previously.
The Chinese equities experience wild swings and fluctuates between gains and losses, finally poised for a negative close on the day. Markets ignored the Chinese central bank’s (PBOC) moves to stabilize the domestic equities. The PBOC poured nearly $20 billion into money markets, its largest cash injection since September. While a weaker yuan midpoint set by the bank at 6.5169 today, also failed to lift the sentiment.
Towards the closing hours, the benchmark Shanghai Composite (SSEC) falls -0.54% and trades around 3,280 versus -1.50% drop seen over the last hours. While Hong Kong’s, the Hang Seng trades -0.73% lower at 21,169. China’s A50 index gains +0.70% to 10,173 versus -0.40% slide seen previously.