China Market drops after IPO announcement

Mainland China stock market ended session at its lowest close in more than a year on Thursday, 21 January 2016, amid risk aversion selloff across the board, with shares of industrial, developers and consumer-discretionary companies being major losers. The selloff pressure intensified on deepening concern that the nation's economic slowdown and worries about market liquidity after a gauge of interbank funding availability in the mainland jumped the most in 13 months. The Shanghai Composite Index tumbled 3.23%, or 96.21 points, to close at 2880.48. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 71.07 points, or 2.41%, to 2873.62.

Powered by Capital Market - Live News