Shares in China and Hong Kong fell more than 1% on Wednesday (29), after sharp gains in the previous session, pressured by the selloff on Wall Street and new geopolitical tensions.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, closed down 1.54%, while the Shanghai index was down 1.4%.
Both indexes posted their biggest daily percentage loss since May 24, but are still nearly 20% off their April 27 lows.
The Hong Kong Hang Seng Index fell 1.88%, while the China Enterprises Index slipped 3.3% after touching a nearly four-month high in the previous session.
The benchmark US S&P 500 index tumbled 2% last Tuesday as consumer confidence data dampened investor optimism and fueled worries about a recession and the looming earnings season.
At the same time, the administration of US President Joe Biden added five Chinese companies to a trade ban list on Tuesday for allegedly supporting Russia’s military and defense industrial base.
“Geopolitical tensions between China and other major economies, especially the US and its allies, are likely to remain high,” ratings agency Moody’s said on Wednesday.
- In TOKYO, the Nikkei index fell 0.91% to 26,804 points.
- In HONG KONG, the HANG SENG index fell 1.88% to 21,996 points.
- In SHANGHAI, the SSEC index lost 1.40% to 3,361 points.
- The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, dropped 1.54% to 4,421 points.
- In SEOUL, the KOSPI index fell by 1.82% to 2,377 points.
- In TAIWAN, the TAIEX index registered a drop of 1.29%, at 15,240 points.
- In SINGAPORE, the STRAITS TIMES index fell by 0.17% to 3,134 points.
- In SYDNEY, the S&P/ASX 200 index fell 0.94% to 6,700 points.
Source: CNN Brasil
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