The cracks are there to see!

Sharing is Caring!

The recent economic developments in China have sent shockwaves through the financial markets, with Hong Kong shares dropping 3.7%, and mainland China stocks reaching near 5-year lows. China reported its fourth-quarter GDP figures slightly below expectations, revealing a growth rate of 5.2% for the October to December quarter in 2023. This figure fell short of the 5.3% growth forecast by economists in a Reuters poll.

The unsettling economic data is raising concerns among investors, particularly in Hong Kong, where stocks have witnessed a significant 10% decline since the beginning of the year. The cracks in China’s economy are becoming more apparent, with retail sales disappointing in December and the unemployment rate in cities hitting 5.1%. The higher unemployment rate among individuals aged 16 to 24, standing at 14.9%, adds to the overall sense of pessimism in the market. The economic spook has left investors on edge, reflecting the broader challenges facing China’s economic landscape.

See also  Job cuts surge in October: strikes, layoffs, small business closures up sharply; DISASTROUS jobs report - Only 12K jobs added; last two months revised down by 112K.
See also  WE HAVE A PROBLEM - Mannarino - They're Setting it Up for a FALL..

Sources:

CNBC: Hong Kong shares drop 3.7% and mainland China stocks tumble to near 5-year lows

Pessimism among investors was most pronounced in Hong Kong, where stocks have plunged by 10 percent so far this year.

Views: 636

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.