Shanghai Stock Exchange makes slight recovery after yesterday’s huge losses
Hong Kong (AsiaNews) - The Shanghai Stock Exchange closed the morning session recovering some losses after yesterday’s sudden trade suspension due to huge losses.
The Shanghai Composite Index opened down 3%, but at the end of the morning session was up 0.41%.
The Hong Kong Stock Exchange closed with a slight loss of 0.02%; the Shenzhen market was less than 0.53%.
Yesterday the Chinese stock exchanges were closed at 13:33 because the market slid by 7%. The suspension of trading is due to a new rules system put in place by China following the huge losses suffered by its market over the past summer months. The market was suspended when the composite index lost up to 5%.
Fears of a new period of volatility, has led to a global equities sell-off. In New York, on the first day of trading in the new year, the indices lost up to 2%.
Today Seoul is also now active up by 0.8%. The Tokyo Stock Exchange, after yesterday's losses, has so far recovered 0.4%.
The various signals coming from the Chinese economy push analysts to think that trade will be frequently suspended on the Chinese stock market this year.