Wysłany: Sro Lip 17, 2019 08:03 Temat postu: The Caixin General China Manufacturing Purchasing M
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BEIJING, Jan. 4 (Xinhua) -- Trading on China's stock markets was ended at 1:33 p.m. Monday after shares tumbled 7 percent, triggering the new ""circuit breaker"" mechanism on the first trading day of 2016.
The early end to trading on Shanghai and Shenzhen bourses, the first in the history of China's stock markets Authentic Phil Haynes Jersey , coincided with the launch of the automatic circuit breaker, designed to contain wild swings in the markets.
The mechanism follows the Hushen 300 Index, which reflects the performance of both Shanghai and Shenzhen traded stocks.
When the Hushen 300 rises or falls by 5 percent, the circuit breaker imposes a 15-minute suspension of trading. If fluctuations hit the 7-percent mark, trading is terminated for the day.
At 1:12 p.m. Authentic Gary Jennings Jr. Jersey , trading was suspended for 15 minutes and, immediately on reopening at 1:33 p.m., the index fell a further 2 percent whereupon trading ceased. When trading closed, the Shanghai Composite Index was down 6.85 percent, the smaller Shenzhen index down 8.16 percent Authentic Cody Barton Jersey , and the ChiNext Index, China's NASDAQ-style board of growth enterprises, down 8.21 percent. The sub-index for financial heavyweights, which tracks 51 banks and insurers, dropped 8.3 percent Authentic D.K. Metcalf Jersey , with 16 financial firms falling by the daily limit of 10 percent.
CITIC Securities, China's largest brokerage firm, lost 9.82 percent to 17.45 yuan per share. Bank of China fell 3.49 percent to 3.87 yuan. China Construction Bank lost 3.11 percent to 5.6 yuan. China Life, one of the world's biggest life insurers by market value, lost 7.21 percent.
Energy firms also lost. Sinopec Authentic Marquise Blair Jersey , China's top refiner, tumbled 3.63 percent to close at 4.78 yuan per share. PetroChina, the largest oil and gas producer, lost 2.63 percent to 8.13 yuan.
The decline is generally being attributed to downbeat market sentiment stemming from weaker than expected manufacturing activity in December and a steep fall in the yuan exchange rate on the day.
The Caixin General China Manufacturing Purchasing Managers' Index (PMI),released today Authentic L.J. Collier Jersey , edged down to 48.2 in December from 48.6 in November.
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