Chinese stocks fell the most since the stock market bubble burst in 2015, as they began trading again at the worsening outbreak. The CSI 300 Index fell as much as 9.1% while the onshore financial markets opened for the first time since January 23 more than 2,600 shares fell by the daily limit of 10%. China’s reference contract iron ore has fallen from its daily limit of 8%, while copper, crude oil and palm oil is also dropped from the maximum allowable. The yield on China sank actively traded 10-year government bonds fell to weaken last most of 2014 yuan 1% 7 per dollar. The router comes as regulators targeted measures to help relieve the pain for companies, banks and individuals obtuse and pledging financial stability. China injected money into the financial system Monday, with the central bank tries to ample liquidity in order to ensure, as markets fall. It cut prices by an average of 10 basis points. Officials have urged investors and objectively evaluate the impact of the crown, which killed more than 360 and spread to more than 17,000 people. “It ‘s really hard to share trade,” said Li Shuwei, president of Beijing WanDeFu Investment Management Co. “It’ s impossible to predict how the disease will develop. Experts have no clear idea when the outbreak will end, not to mention stockbroker. it ‘s too early to buy shares at this time, and it is also difficult to sell because all stocks were limit-down. So I just have to wait and see. ” The CSI 300 some losses lower than 7.6% for the trade of Shanghai at 10:28. Declines were led by telecommunications, technology and raw material producers. Hong Kong Hang Seng Index 5.9% in the three days of trading last week fell, slipped 0.1%. The People’s Bank of China added 900 billion yuan ($129 billion) of the stock with seven days repo at 2.4%. It ‘also injected 300 billion yuan of 14-day contracts to 2.55%. While the total, the largest single day added of its kind in data going back to 2004, this implies net injection of mature only 150 billion yuan as more than 1,000 billion yuan of short-term funding. The outlook for China’s onshore markets were already bleak if investors on vacation was last month. The Shanghai Composite Index fell 2.8% on 23 January, its worst ending for a lunar year on record. A number of Chinese provinces and cities have the Lunar New Year break at the end of February 9th, including Shanghai and Guangdong extended. Beijing, the administrative center of the country, this week was surprised to declare a holiday. Instead, employees to work on the promotion of home. “A lot of people in the market have not been as it is today through situations, and you can not blame people for wanting to cash when they feel like their health is at risk,” said Fang Rui, general manager of Shanghai Wusheng Investment management Partnership, “not much we can do there now, we are already a lot of buying with no remaining funds exposed to use.” The epidemic leaves China increasingly isolated. The United States, India, Australia, Indonesia, Singapore, Israel, Russia, New Zealand and the Philippines have imposed restrictions on all visitors from China. In Hong Kong, he said the government is considering further controls on travelers from the mainland in response to a planned attack by health workers to the pressure on the target government to close the border with China.
Chinese stocks diving 9% amide coronavirus outbreak as markets reopen after the holidays
