Investors fear that Beijing may withdraw its unprecedented support for share prices.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Chinese stocks plunged Tuesday as the yuan weakened against the dollar, reigniting fears that Beijing may be intent on a deeper devaluation of the currency despite the central bank's claims that it sees no reason for a further slide.Minsheng Securities estimated 800 billion yuan ($125 billion) had flowed out in July and August alone.Investors have also grown more concerned that Beijing may begin to withdraw its unprecedented support for share prices. The CSI 300 infrastructure index fell 8.4 percent, the energy index dropped 6.1 percent, and the real estate index tumbled 7.3 percent despite data which showed Chinese home prices rose for the third month in a row in July.
FOLLOW THIS ARTICLE