Express
Chinese Markets Tumble On Coronavirus Fears
Summary: According to CNBC, stocks in mainland China plummeted about 9% on Monday morning as they returned to trade following an extended holiday amid an ongoing coronavirus outbreak. The Shenzhen component plunged 9.03% in the opening minutes while the Shenzhen composite fell 8.882%. The Shanghai composite dropped 8.6% in early trade. The PBoC announced Sunday that it ...
According to CNBC, stocks in mainland China plummeted about 9% on Monday morning as they returned to trade following an extended holiday amid an ongoing coronavirus outbreak.
The Shenzhen component plunged 9.03% in the opening minutes while the Shenzhen composite fell 8.882%. The Shanghai composite dropped 8.6% in early trade.
The PBoC announced Sunday that it will inject 1.2 trillion yuan (approx. $173 billion) worth of liquidity into the markets via open market reverse repo operations. The Chinese central bank said the overall liquidity in the system would be 900 billion yuan (approx. $130 billion) more as compared to the same period last year.
Tracy Chen
