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1.Market Observations, 8.Was Sticky

4 Feb 2020 (TheAge) – ASX: Local stocks slide as China’s markets plunge 9pc on return to trade

(4 February 2020, The Age, Business, p29, By Lucy Battersby and David Scutt)

S&P/ASX 200 (XJO) index (Brainy)

S&P/ASX 200 (XJO) index (Brainy)

‘Australia’s sharemarket declined 1.3 per cent on Monday, after China’s stock market plunged when it returned from a ten-day trading holiday. The Shanghai Composite 300 index opened for the first time since the Lunar New Year holiday started on January 23 and immediately shed 9.1 per cent, or $US420 billion ($625 billion) in value, and was on track to record its fifth-largest percentage point decline in 20 years. The trading holiday was extended by Chinese authorities as it attempted to keep people away from work in order to contain the spread of the coronoavirus.’

Read more at TheAge.com.au

 

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