Shanghai (Reuters) -Hong Kong’s main share frequency has been hit by its greatest decline since 1997 on Monday, after China retained us customs at its own prices, which deepened market turbulence in the midst of a broader trade war, while Beijing sovereign funded intervals to stabilize local measures.
Hong Kong’s Hang Seng index has fallen 13.22%, the largest daily decline since 1997, with technology, solar energy, online banks and retailers, as investors sold all assets linked to growth and global trade.
The CSI300 index closed 7.05%, as central Huijin, or the so -called “national team” of state investors, said that increased participation in Chinese shares to defend market stability.
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China, which is now facing US fees of more than 50%, responded in the same way on Friday and applied extra prices to US imports.
The intensification of the dispute between the world’s two largest economies threatens to shake commercial flows and, in addition to affecting Chinese profits, is also expected to make a slowdown in global demand at a time of vacuuming growth in China.
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“I think the effects of this shock will be quite significant,” UBS Chief Economist told China, Tao Wang, on a conversation with investors on Monday. “To begin with, it was a challenge to reach the government’s growth. And now it is even more challenging.”
Trade volumes were heavy, especially since Chinese markets were closed on Friday, when sales were more intense in the US and other financial centers.
The Hang Seng Tech Index dropped 17%and marked its worst performance on a single day since the start of the album. The index fell 27% in one month and is close to where the year began.
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In the absence of any indication of retreat from the White House, investors’ focus will be in Beijing, which may have measures to support Chinese exporters and strengthen the home economy.
. In Tokyo, the Nikkei index pulled 8.8%to 30,792 points.
. In Hong Kong, the Hang Seng index fell 13.22%at 19,828 points.
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. In Shanghai, the SSEC index lost 7.34%to 3,096 points.
. The CSI300 index, which combines the largest companies listed in Shanghai and Shenzhen, withdrew 7.05%to 3,589 points.
. In the Seoul devalued Kospi index 5.57%to 2,328 points.
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. In Taiwan, the TAIEX index registered a low at 9.70%, to 19,232 points.
. In Singapore, Straits Times Index devalued 7.46%at 3,540 points.
. In Sydney, S&S Index 200 withdrew 4.23%at 7,343 points.