Published: Sun, October 14, 2018
Finance | By Loren Pratt

Chinese stocks tumble to multi-year lows after Wall St rout

Chinese stocks tumble to multi-year lows after Wall St rout

His comments came one day after China's minister for commerce, Zhong Shan, said "China doesn't want a trade war, but would rise up to it should it break out".

The Shanghai equity gauge has tumbled more than 20 percent this year, while the Hong Kong benchmark - the world's best performing market as recently as January - is down 16 percent as a trade dispute between the US and China spurred an exodus.

Tech stocks, which were caught in the trade war crossfire last week, suffered again today.

The Taiwan stock market index Taiex fell by 6.28%. Shanghai stocks have declined 7.6 percent this month.

The Kuala Lumpur Composite Index (KLCI) was at 1,730.74 up 22.25 points or 1.30 percent, and the Emas was at 11,981.86 up 157.44 points or 1.04 percent. At issues was an escalation in the recent trade tensions between the United States and China.

The Hang Seng China Enterprises Index, which tracks Hong Kong-listed Chinese companies, closed down 3.4 per cent at 10,092.52 points. Those on the Hang Seng Index and Tencent are the most popular in terms of value traded.

Stocks on the Chinese mainland plummeted sharply this morning, with the Shanghai Composite Index down by 5.19 percent since opening and the Shenzhen Stock Exchange down 5.32 percent and continuing to drop as of 3pm today. Turnover totaled 111.15 billion Hong Kong dollars (about 14.18 billion USA dollars).

HONG KONG - Hong Kong stocks closed up 535.12 points, or 2.12 percent, to 25,801.49 points on Friday.

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