European stocks slumped on Monday after a rout in Chinese markets, wiping hundreds of billions of euros off leading shares and sending one benchmark index to a seven-month low. The pan-European FTSEurofirst 300 ( FTEU3 ) fell 3.2 percent to 1,381.77 points by mid-session, taking roughly 270 billion euros off the value of shares. The index sank to its lowest level since January, having lost over a trillion euros in market value since the start of the month as China's devaluation of the yuan stoked fears of global economic deflation. Chinese stocks plunged more than 8 percent on Monday, in their biggest one-day loss since the height of the global financial crisis in 2007 after Beijing held back expected policy support at the weekend following last week's 11-percent slide. "The events in China are clearly serious and demonstrate that the development model there is struggling to maintain growth," Taube Hodson Stonex Partners fund manager, Mark Evans, said. VO
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CHINESE INDEXES HIT.. Chinese stocks plunged more than 8 percent on Monday, posting their biggest one-day loss since the height of the global financial crisis in 2007 as disillusioned investors dumped shares after Beijing held back expected policy support at the weekend following last week's 11 percent slide. The latest tumble, which saw flagship indexes resolutely breaking key support levels, wiped out what was left of the market's stellar gains this year. The blue-chip CSI300 index ( CSI300 ) tumbled 8.8 percent, to 3,275.53, while the Shanghai Composite Index ( SSEC ) slumped 8.5 percent, to 3,209.91 points, putting it back where it began 2015. Hong Kong's Hang Seng index ( HSI ) fell for the seventh straight day, dropping 5.2 percent to 21,251.57 points, which analysts blamed both on weak onshore performance and to investors moving money out of yuan-denominated assets after a surprise devaluation in the Chinese currency ear
The European and U.S. bourses decreased significantly last Friday. Loss of Hang Seng Index widened after opening down 803 pts this morning. Shanghai Composite Index dived 8.5%, marking the largest drop in more than 8 years. Hang Seng Index once hit the intra-day low at 21,136, down 1,273 pts, being the lowest level since July 2013. The index closed at 21,251, down 1,158 pts or 5.2%. Hang Seng China Enterprises Index last printed at 9,602, down 592 pts or 5.8%, hitting the over 1-year low. The market turnover surged to $138.971 billion. HSI Tumbles Over 1,100 pts; HSCEI Slumps 5.8% Most of the blue chips and red chips headed south today and only CITIC (00267.HK) +0.040 (+0.287%) Short selling $246.24M; Ratio 19.280% edged up 0.3% as the company released the interim results at midday, reporting that its net profit increased 45.5% yearly. Three telecommunications operators announced a change in their
HSI DOWN! Hang Seng Index (HSI) once fell 336 pts, dragged by the downtrend in A-share market and Asian markets. HSI closed near the day-low at 23,167, swinging to loss of 307 pts or 1.3%. Hang Seng China Enterprises Index finished at 10,642, down 127 pts or 1.2%. Market turnover increased to $91.773 billion. HSBC HOLDINGS (00005.HK) -0.700 (-1.043%) Short selling $289.68M; Ratio 19.480% slid 1% in share price. AIA (01299.HK) -1.000 (-2.174%) Short selling $376.32M; Ratio 17.932% ended in green for four days, down another 2.2% today. HKEX (00388.HK) -2.600 (-1.281%) Short selling $287.31M; Ratio 16.744% lost 1.3%. As CHINA OVERSEAS (00688.HK) +0.100 (+0.437%) Short selling $113.10M; Ratio 9.580% 's core profit beat estimates and raised its full-year sales target, its share price climbed 0.4% after announcing its results. CATHAY PAC AIR (00293.HK) -1.280 (-7.683%) Short selling $18.34M; Ratio 7.588% saw