US EUROPE AFRICA ASIA 中文
    Business / Markets

    Indexes mirror sharp falls in Japan

    By Cai Xiao (China Daily) Updated: 2016-01-22 08:25

    Indexes mirror sharp falls in Japan

    A man checks stock prices at a brokerage in Huaibei, Anhui province. [Photo/China Daily]

    Experts blame global market turbulence and unstable offshore currency market

    The mainland's three main stock indexes dropped more than 3 percent on Thursday, influenced by global market turbulence, an unstable offshore currency market and falls in Japan.

    The benchmark Shanghai Composite Index declined 3.23 percent to close at 2,880.48 points, the Shenzhen Component Index dropped 3.77 percent, and the startup index ChiNext fell by 4.18 percent.

    "Global markets interact with each other and the A-share market can be influenced by outside conditions such as a sell-off in Japan," said Hong Hao, managing director and chief strategist at BOCOM International Holdings Co.

    "An unstable offshore currency market can be another reason."

    The Topix index fell 2.8 percent to 1,301.49 at the close in Tokyo, reversing gains of as much as 1.6 percent; the Nikkei 225 Stock Average closed 2.4 percent lower at 16,017.26, according to Bloomberg data.

    The Standard & Poor's 500 Index ended down 1.2 percent on Wednesday at a 21-month low, while the Dow Jones Industrial Average pulled back from its steepest intraday slump since August to shed 249 points by the close.

    Li Daxiao, chief economist at Yingda Securities Co, said: "With the impact of US interest rate hikes and stock market cycle rotation, there is weak performance on global markets, which also influences China."

    However, Li also said he considered the A-share market as near its bottom, representing a good time to invest.

    The People's Bank of China, the nation's central bank, said in a statement on Monday that China will require foreign financial institutions in the country to hold yuan in reserve, a move to curb speculative sell-offs of the Chinese currency. The new regulation comes into effect on Jan 25.

    Hong Hao said that after that intervention in the offshore yuan market, the sudden weakness in the Hong Kong dollar has now become the focus for traders.

    He said the currency came under attack by short sellers which also pulled down Hong Kong's stock market and had a knock-on effect on the A-share market.

    Deng Haiqing, chief economist at JZ Securities Co, also agreed that Hong Kong's unsteady currency and stocks had had a strong influence on pulling down A shares.

    The China Insurance Regulatory Commission organized a meeting on Wednesday to revise regulations on insurance companies' financial products, concluding insurers will not be allowed to issue new high-return products with policy terms of less than three years.

    Many funds financed through these financial products are invested in the A-share market, and Deng said that too could be playing a role in the A-share losses.

    China's central bank, meanwhile, also continued to ease liquidity strains on the financial system on Thursday, injecting another 400 billion yuan ($60.8 billion) of funds through reverse repurchase operations.

    Hong said the central bank's injection was not enough to offset the seasonal demand for liquidity, but still added he had "confidence in the Chinese A-share market in the long term".

    Hot Topics

    Editor's Picks
    ...
    国产精品无码日韩欧| 亚洲精品无码专区久久久| 亚洲AV综合色区无码一区| 中文字幕久久波多野结衣av| 手机永久无码国产AV毛片| 日本无码色情三级播放| 美丽姑娘免费观看在线观看中文版| 久久青青草原亚洲av无码app| 中文字幕不卡高清视频在线| 亚洲精品中文字幕乱码三区| 国产真人无码作爱免费视频| 日韩人妻无码精品一专区| 日韩精品无码免费专区午夜| 7777久久亚洲中文字幕| 中文字幕人妻无码专区| 亚洲成av人片不卡无码久久| 日韩精选无码| 日韩精品无码Av一区二区| 精品人妻大屁股白浆无码| 人妻少妇乱子伦无码视频专区| 亚洲午夜福利AV一区二区无码| 国产丝袜无码一区二区三区视频| 欧美日韩中文在线| 最好看的中文字幕最经典的中文字幕视频 | 精品人妻V?出轨中文字幕| 中文字幕无码AV波多野吉衣| 韩国中文字幕毛片| 中文字幕乱码久久午夜| 久久精品中文字幕一区| 大地资源中文在线观看免费版| 亚洲精品中文字幕乱码三区| 日本中文字幕在线2020| 中文字幕在线观看亚洲日韩| 中文字幕亚洲一区二区va在线| 久久无码AV中文出轨人妻| 自慰无码一区二区三区| 无码国内精品人妻少妇蜜桃视频| 精品欧洲AV无码一区二区男男| 久久精品无码一区二区三区免费 | 中文在线天堂网WWW| 中文字幕VA一区二区三区 |