China’s blue-chip index, its CSI300, fell
to its lowest level in nearly five years on Monday.
- Shanghai Composite Index fell 0.9%
- Shanghai’s tech-focused STAR50 Index fell more than 2% to fresh record lows
In Hong
Kong, stocks dropped another 2%
- the Hang Seng Tech Index fell more than 3% to the lowest level in 13 months
Factors cited:
- signs of rising geopolitical tensions ahead of
Taiwan’s elections this weekend, with Taiwan’s defence ministry saying it had three more
Chinese balloons flying over the Taiwan Strait on Sunday - China’s foreign ministry said on Sunday the
country will sanction five U.S. military manufacturers in
response to the latest round of U.S. arms sales to Taiwan
China’s economy, especially the fragile state of the property market, with another major firm going bankrupt on the weekend (
China ‘wealth manager’ Zhongzhi goes bankrupt amid property market collapse)
Read More: Chinese equities took another pounding today