IPFS News Link • China
Beijing Powerless As Chinese Stocks Crater After Trump Confirms He Will Impose 60% Tariffs
• https://www.zerohedge.com, by Tyler DurdenLast week's dead cat bounce in Chinese stocks - after Beijing did everything but launch a multi-trillion fiscal stimmy bazooka (something it will do, later if not sooner) - is a distant memory, and as Asian markets open for trading in the news week, Chinese markets are cratering with the Shanghai Composite plunging as much as 3.1% to a fresh five-year low..
... while the broader CSI 1,000 Index is also in free-fall and also on pace to re-test the 2018 lows with as many as 990 of the 1000 companies of the index in the red.
China market …???????? https://t.co/cS3xc4kwPU pic.twitter.com/J0o0rKiHvL
— Cathy Yuan Zhang (@CathyYuanZhang) February 5, 2024