Live | China Markets Live - Shanghai stocks tumble below 3,000 for first time in four months; Hong Kong rally fades
Shanghai markets shrug off better-than-expected Chinese trade data; offshore yuan stabilises after PBOC intervention
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 is a summary of market action so far today:
- Shanghai benchmark tumbles 2.4 per cent to close below 3,000 for first time since late August
- Hong Kong's Hang Seng ends up 1.1 per cent, halving early gains
- Shenzhen Composite slides 3.5 per cent
- China's December exports and imports fall less-than-expected in dollar terms
5:05 pm: Oil prices rebounded in Asian trade Wednesday, after sliding below US$30 a barrel for the first time in 12 years overnight. The WTI crude futures jumped 2.9 per cent to US$31.32, and the Brent crude advanced 2.8 per cent to US$31.74.
4:57 pm: Asian stocks advanced broadly after China's December trade data surprised to the upside. Japan's Nikkei jumped 2.9 per cent to end at 17,715.63, and the broader Topix index also climbed 2.9 per cent to 1,442.09. Australia's S&P/ASX 200 closed up 1.3 per cent at 4,987.40. India's Sensex rose 0.4 per cent to 24,769.34 in afternoon trade.
4:19 pm: Hong Kong stocks closed off session highs on Wednesday, halving morning gains. The Hang Seng Index advanced 1.13 per cent or 223.12 points to settle at 19,934.88.
The H-shares index rose 0.65 per cent or 55.18 points to end at 8,494.49.
Below is the one-day chart for Hong Kong stock market: Hang Seng Index (yellow), H-share index (purple). The percentage at the end show the difference from the opening, not the previous close. Click to enlarge the chart.
