Live | China Markets Live - Hong Kong stocks finish below 20,000 for first time since 2013; Shanghai and Shenzhen plunge amid China growth fears
Hong Kong, Shanghai and Shenzhen stocks all extend the sell-off from last week after weak inflation data reignite China growth fears; other major Asian markets dragged lower
Welcome to the SCMP's live China markets. The intense volatility in Chinese markets into 2016 due to the implementation of the circuit breaker has roiled world financial markets. Investors are increasingly focused on the broader question of how this episode might affect the wider economy of the country. We'll bring you the key levels, trading statements, price action and other developments as they happen.
Here’s a summary of market action so far today:
- Hong Kong benchmark declines 2.8 per cent to close below 20,000
- Shanghai Composite plunges 5.3 per cent to four-month low
- Shenzhen Composite sinks 6.3 per cent to worst close in three months
- China's consumer inflation rises 1.4 per cent for 2015, well below government target of 3 per cent
- December's producer prices mark 46th straight month of declines
4:15 pm: The Hang Seng Index ended down 2.76 per cent, or 565.21 points, at 19,888.5, the lowest closing level since June 2013. The H-shares index finished at 8,505.16, falling 3.85 per cent or 340.73 points.
Below is the one day-chart of the Hong Kong market. Hang Seng Index (yellow), H-share index (purple). Click to enlarge the chart.
3:39 pm: Oil prices extended the slump from last week in Asian trade. The WTI crude futures for February delivery dropped 2.7 per cent to US$32.25 a barrel, and the February Brent crude futures fell 3.3 per cent to US$32.44 a barrel. Both WTI and Brent prices declined more than 10 per cent last week.
3:08 pm: The Shanghai Composite Index closed down 5.33 per cent, or 169.71 points, at a four-month low of 3,016.7. The CSI300 finished 5.03 per cent lower, or down 169.11 points, at 3,192.45.
The Shenzhen Composite Index ended down 6.6 percent or 130.62 points at 1,848.1, the worst settlement in three months. The ChiNext settled at 2,106.44, down or 6.34 per cent or142.55 points.
Below is the one-day chart for Chinese markets. Shanghai Composite Index (yellow), Shenzhen Composite Index (green), CSI300 Index (purple) and ChiNext (blue). The percentage levels on the right of the chart represent the differences from the opening, not from previous close. Click to enlarge the chart.
2:49 pm: Shares in Hong Kong-listed Convoy Financial Holdings plunged 6.49 per cent to 36 HK cents, after the wealth management company warned it may post a profit loss for 2015. Convoy said the loss may be due to an approximately HK$201-million fall in the value of “financial investments” held by the group, as well as a 55-per-cent decline in brokerage commission income.
