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1.Market Observations, 8.Was Sticky

4 Feb 2020 (AFR) – Coronavirus: China sell-off reflects growth fears

(4 February 2020, AFR, p27, Robert Guy, Senior Writer)

Shanghai Composite (Bloomberg, AFR)

Shanghai Composite (Bloomberg, AFR)

Prognosis: negative. That was the swift – yet unsurprising – conclusion delivered by investors as the re-opening of China’s financial markets was greeted with a 8 per cent slide in the CSI 300 Index – which includes Shanghai and Shenzhen stocks – and the Chinese yuan weakened beyond 7 against the US dollar. The slide in China’s 10-year bond yield to 2.8 per cent from 2.98 per cent before the Lunar New Year holiday underscores the scramble for safety.’

Read more (and see the currency chart) at AFR.com (might need AFR login access)

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