China Stocks Swing Wildly in Chaotic End to Worst Week in Years

Sharing is Caring!

(Bloomberg) — A sense of panic gripped Chinese investors on Friday as shares swung sharply in the final hours of trading before closing at a five-year low.

Traders couldn’t pinpoint any fresh news behind the moves but cited concerns about forced sales by leveraged shareholders as among reasons for the sudden acceleration of losses in onshore markets.

See also  Nasdaq near tech bubble levels; Money supply hits 27-month highs; Gold approaches $2720, nearing all-time high, despite dollar strength.

A subsequent rebound, which coincided with net flows from overseas investors turning positive for the day, couldn’t stop the CSI 300 Index from ending the week with a 4.6% loss — its biggest since 2022. The Shanghai Composite Index lost 6.2% in its worst week since 2018.

See also  AstraZeneca's Executive Vice President in China has been arrested for fraud

https://finance.yahoo.com/news/china-stocks-swing-wildly-chaotic-070653253.html?fr=yhssrp_catchall


59 views