View more on these topics

China shares plunge 6% amid capital outflow concerns

Japan-Stock-Market-Asia-Stockmarket-700x450.jpg

The Chinese stockmarket has been hit by a steep loss of 6.4 per cent as large equity outflows and oil price falls continue to worry investors.

The benchmark Shanghai Composite ended 6.42 per cent at 2,749.79, its lowest point since early December 2014 and the biggest one-day drop since the 7 per cent fall on 7 January.

The Shenzhen Composite also dropped by 7.1 per cent, while the Hong Kong’s Hang Seng shedding 2.4 per cent to 18,879.44 points.

Equity outflows from the region reached a record $1trn in 2015 leading investors to worry capital flight could continue through 2016.

Stocks in China dropped even as the People’s Bank of China injected 440bn yuan ($67bn) into the financial system using reverse-repurchase agreements.

Also, brent crude prices fell 6.3 per cent to $30.15 a barrel during trade today, also leading US and other major Asian stocks to fall.

The Dow Jones fell 1.3 per cent on market close yesterday followed by Japan’s Nikkei 225, Asia’s biggest index, falling 2.4 per cent to close at 16,708.90 points. Korea’s Kospi was also down 1.2 per cent.

Recommended

China-Asia-Street-Busy-700x450.jpg

China reports slowest GDP growth in 25 years

China’s economy grew by 6.9 per cent during a turbulent 2015, the slowest growth rate recorded by the country in a quarter of a century. The figure is down from 7.3 per cent in 2014 and is the lowest reported by China since 1990. Growth throughout the year was 7 per cent in Q1 and […]

Premier’s Hambidge boosts UK and Asia holdings despite China turmoil

Premier Asset Management director of multi-asset funds David Hambidge has boosted exposure to UK and Asian equities despite the recent turmoil in China. Hambidge, who has managed the £686m Multi-Asset Distribution fund since 1999, says recent stockmarket falls are “long over-due” and the way he positioned his fund was “waiting for a correction”. Hambidge and his multi-asset […]

China-Asia-Street-Busy-700x450.jpg

Tilney Bestinvest ditches Newton Asia fund after Pidcock departure

Tilney Bestinvest has sold out of the Newton Asian Income fund in its multi-asset portfolios following the departure of manager Jason Pidcock earlier this year. In a reshuffle of the Asia ex-Japan and emerging market allocations in the £1bn multi-asset portfolios, Tilney Bestinvest has replaced the Newton Asian Income fund with the First State Asian Equity Plus […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Excuse me for being dense, but would the Western world prefer the scenario we had in the 1970’s when the Saudis could hold the world to ransom by turning off the tap and forcing up the price of energy for everyone? Cheap oil is good for business and consumers. If we believe that renewables will play an increased role then the oil price can only fall in future and trying to prop it up for a few dinosaur companies (pun intended) is Luddite.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com