China Share market lost 24 % in August.
Monday 31st August, 2009
China shares plummeted nearly 7% on Monday.
China's benchmark Shanghai Composite fell 192.94 points or 6.74% to 2,667.745. The index has now fallen for four weeks in a row. Monday's losses mean the Shanghai Composite has now lost 23.2% in the month of August. At one stage the index was up 91% for the year.
"China's decline is just scaring people," Tim Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York told the Reuters newsagency.
While concerns about the Chinese market lingered on Wall Street the sell-off by comparison was mild. At the close of trading Monday the Dow Jones Industrials were down 47.92 points or 0.50% to 9,496.28.
The Nasdaq Composite was off 19.71 points or 0.97% at 2,009.06.
The Standard and Poor's 500 was down 8.31 points or 0.81% at 1,020.62.
The U.S. dollar was mixed. Around the New York close Monday the Japanese yen was sharply higher at 93.02 following election results which pave the way for a change of government there.
The euro and sterling were a touch higher at 1.4336 and 1.6278 respectively.
The Swiss franc was little moved at 1.0586.
The Australian dollar rose strongly to.8449 while the Canadian dollar edged down to 1.0941.
Monday 31st August, 2009
China shares plummeted nearly 7% on Monday.
China's benchmark Shanghai Composite fell 192.94 points or 6.74% to 2,667.745. The index has now fallen for four weeks in a row. Monday's losses mean the Shanghai Composite has now lost 23.2% in the month of August. At one stage the index was up 91% for the year.
"China's decline is just scaring people," Tim Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York told the Reuters newsagency.
While concerns about the Chinese market lingered on Wall Street the sell-off by comparison was mild. At the close of trading Monday the Dow Jones Industrials were down 47.92 points or 0.50% to 9,496.28.
The Nasdaq Composite was off 19.71 points or 0.97% at 2,009.06.
The Standard and Poor's 500 was down 8.31 points or 0.81% at 1,020.62.
The U.S. dollar was mixed. Around the New York close Monday the Japanese yen was sharply higher at 93.02 following election results which pave the way for a change of government there.
The euro and sterling were a touch higher at 1.4336 and 1.6278 respectively.
The Swiss franc was little moved at 1.0586.
The Australian dollar rose strongly to.8449 while the Canadian dollar edged down to 1.0941.
