The CSI index of 300 of China’s largest companies listed on the Shanghai and Shenzhen stock exchanges fell 1.3% on Monday.
Chinese shares fell to their lowest level since the coronavirus pandemic as Beijing’s latest efforts to prop up the stock market failed to stem the sell-off. It was reported by the Financial Times.
The CSI index of 300 of the largest Chinese companies listed on the Shanghai and Shenzhen stock exchanges fell 1.3% on Monday to 3,463 points, its lowest level since 2019. In dollar terms, the index fell nearly 15% this year.
However, a further slowdown in growth and high-profile defaults on dollar loans by Chinese developers prompted investors to dump Chinese stocks.
Global funds are also concerned about deteriorating relations between the US and China, with asset managers under pressure from Washington over investments in several Chinese companies listed on the Shanghai and Shenzhen exchanges.
Foreign investors using Hong Kong’s Stock Connect program to trade shares of mainland Chinese companies have sold 169 billion yuan ($23 billion) worth of securities since early August, which brought net inflows for the year down more than 70% to just 66 billion. RMB
As we have already written, the three largest oil and gas companies from China are included in the list of international sponsors of the war.
Let’s remember that Chinese companies top the list of war sponsors.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.