Markets
Chinese Stocks Fall Most in a Week
Chinese stocks fell the most in a week, led by materials and technology companies.
The Shanghai Composite Index slumped from a three month high after dropping 0.3 percent. ZTE Corp plunged in Hong Kong as trading resumed for the first time in a month, following U.S. Commerce Department sanctions blocking exports to the company.
Even though recent economic data have brought some form of stability to mainland financial markets, the shanghai index is still among the worst performing indexes globally.
According to a front-page commentary on Chinese Securities Journal “the momentum of China’s economic rebound faces risks including inflation expectations triggered by rising pork prices and home-purchase curbs in top cities”
The CSI 300 Index dropped 0.3 percent, while the Shanghai equity gauge traded at 3,042.69 as of 10:14 a.m. local time. The Hang Seng China Enterprises Index was little changed in Hong Kong.