China stocks slump 6% in biggest one-day loss in a month
Shanghai
CHINA stocks tumbled more than 6 per cent on Thursday, their biggest one-day loss in a month, as investors booked profits after the market's recent rebound and awaited policy cues from global leaders gathering in Shanghai for a G20 meeting.
Traders and analysts cited a confluence of reasons for the slide in addition to profit-taking. These include fears of tighter liquidity in the financial system, worries about the cooling economy and anxiety over looming liberalisation of initial public offerings (IPOs), which some investors fear could result in a cash crunch.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Thailand to appoint former energy executive Pichai as finance minister, sources say
Consumer gulf widens as demand for premium and budget foods grows
‘To the Future’: Saudi Arabia spends big to become an AI superpower
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
Overcrowded Venice begins charging day-trippers for access
South Korea readies new system to detect illegal short-selling