More rollercoaster trading in Shanghai to start the week, which plunged on opening and then clawed back most of the losses.
The Chinese stockmarket has dropped nearly 40% since June in what
most traders are saying is a correction after breakneck growth in the
previous nine months. In August the market shed 12% of its value.
However the government is blaming speculators and is cracking down
on them. Papers on Monday were filled with confessions from businessmen
and at least one journalist admitting to illegal practices.
Real worries about China’s economy remain, however, and the latest
figures due this week on factory production and the service sector will
be keenly watched.
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Source: Euronews
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