Asian stocks posted further losses Friday after another slide in the US overnight. China’s equities rose, reversing losses, after verbal intervention by the nation’s top financial regulators, who assured they’ll keep financial risks under control.
The MSCI Asia Pacific Index headed for its worst three-week slide since January 2016 as shares fell from Sydney to Hong Kong. Earlier, the S&P 500 Index fell more than 1% and the Nasdaq 100’s drop topped 2%. China’s Shanghai Composite rose from a four-year low. The yuan stabilized after earlier losses, and the dollar held overnight gains.
China’s recent rout spurred the most explicit comments by policy makers to date, with the central bank and other regulators moving to assure that liquidity risks are being addressed.
The MSCI Asia Pacific Index headed for its worst three-week slide since January 2016 as shares fell from Sydney to Hong Kong. Earlier, the S&P 500 Index fell more than 1% and the Nasdaq 100’s drop topped 2%. China’s Shanghai Composite rose from a four-year low. The yuan stabilized after earlier losses, and the dollar held overnight gains.
China’s recent rout spurred the most explicit comments by policy makers to date, with the central bank and other regulators moving to assure that liquidity risks are being addressed.
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