Chinese stocks continue to Fall, World Follows

 

lolchina

A rough Day for investors. China’s stock market a further 8% yesterday, leading to reactions across the globe. The Australian Dollar was a big loser, falling sharply against all currencies. Commodities also saw a fall in prices.

 

Chinese indices experienced many severe drops in the recent months, however yesterday’s fall affected the FOREX market severely. The Ruan and  Australian Dollars fell sharply against the Dollar Pound and Euro due to the connectedness between the two economies.

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The Jinping administration attempts to strongarm the market in 2014 appear to be folding in on themselves as Chinese stocks continue to contract, and private capital is fleeing the country.

The prices of all commodities fell about .6% with the exception of Sugar, which jumped 35%. Gold and Silver were more stable, each fell around .2%

An eventful day for merchants everywhere.

Market data from Morningstar plc.

About the Author

Patrick Flanagan

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Irish Burkean Conservative. Roman Catholic. Líofa i nGaeilge.

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  • Guest - Swede

    One begins to doubt the competence of the article author when he lacks even the basic cultural knowledge that Xi Jinping's family name is Xi, NOT Jinping. Many Asian people have their family names before their given names.

    I recommend that the author take care to ensure that his future articles are free of errors which compromise his ethos.

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