China: Stocks tumble in early trade on policy concerns
[SHANGHAI] China stocks fell sharply in early trade on Friday, extending Thursday's losses, as markets struggle to digest a flood of IPOs, tighter cash supply and general anxiety about policy direction.
The CSI300 index fell 2.8 per cent to 4,573.87 points by 0128 GMT, while the Shanghai Composite Index lost 2.8 per cent to 4,399.93 points.
China CSI300 stock index futures for July fell 3.6 per cent, to 4,513.2, -60.67 points below the current value of the underlying index.
In Hong Kong, the Hang Seng index dropped 0.5 per cent, to 27,016.09 points.
The Hong Kong China Enterprises Index lost 1.0 per cent, to 13,330.10.
REUTERS
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
Singapore stocks extend gains on Tuesday led by banks; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
Europe: Stocks rebound after last week’s selloff, eyes on earnings and data