Calmer voices emerge amid market carnage
Observers say continued selldown an issue of confidence rather than sign of coming recession or financial crisis
Singapore
ASIAN stocks took another beating on Thursday after US stocks fell on Wednesday night. Hong Kong's Hang Seng Index fell below book value for the first time since the Asian financial crisis; China's Shanghai Composite fell through the 2,900-point barrier.
Observers say forced selling by oil producers' sovereign wealth funds, along with unwinding of various trades, could be behind the continuous bleeding.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results