(Worthy News) – Chinese stocks took a hammering Monday as traders returned to work after a weeklong holiday in the world’s second-largest economy.
Losses on major indexes in mainland China were as high as 4.8% in a major market rout, with the China A50, which includes major companies from both the Shenzhen and Shanghai indexes, as the biggest loser. The Shanghai Composite lost 3.7% of its value, while the Shenzhen Composite was down just over 4% at the close of the day’s trading.
The reasons behind the crash are numerous but include Chinese investors’ catching up to their Asian counterparts after a week of losses in Hong Kong, Japan, and South Korea. [ Source: Insider (Read More…) ]
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