China Stocks Crash Again; Raising Renewed Concerns - ValueWalk
China worries continue this week as the nation's stock markets are falling deeper and deeper into a slump . Today's declines come despite the lack of news surrounding the Chinese markets, indicating that investors remain wary amid questions about... China stocks fall on Monday Shanghai-listed equities declined 8. 5% today, while stocks traded on the ChiNext fell 7. 4% and Hang Seng stocks fell 3. 1%. According to analysts at Evercore Partners Inc. ( NYSE:EVR ) ISI, the Shanghai Composite Index's 8. 5% decline marked its worst day since 2007, closing at 3726. The index opened lower today and kept falling throughout the trading day in China. The ChiNext index closed at 2683 today but also remains up for the year by a whopping 109% compared to last year. The Hang Seng in Hong Kong closed at 24352 and is doing much more poorly than the Mainland China indexes, as it is only up 0. 6% year over year. Many A-shares still halted Evercore ISI analysts Donald Straszheim, Erik Lundh and Neo Wang tell investors to "stay away" from Chinese stocks right now as the markets' weakness is due to a lack of confidence and weakness in the nation's industries. They also point that 65% of A-shares in China fell by the daily limit and that trading on 19% of A-shares remains halted for no apparent reason. Source: www.valuewalk.com
