The Shanghai Composite index fell 6.2%, its biggest weekly loss since October 2018, while the Shenzhen Component index shed 8.1%, its largest drop in three years. The indexes have lost more than 8% and 15% respectively since the start of the year.
China’s blue-chip CSI 300 index, comprising 300 major stocks listed in Shanghai and Shenzhen, also fell 4.6%, notching its worst week since October 2022. The index is down 7% year-to-date.
A record downturn in its dominant real estate market, high youth unemployment, deflation, and a rapidly falling birthrate are just some of the issues ailing the world’s second-largest economy.
The International Monetary Fund expects annual growth in China’s gross domestic product to slow to 4.6% this year — from 5.2% in 2023, one of the weakest performances in decades — and to decline further to about 3.5% in 2028.
meanwhile Dark Brandon's got that US stoke market hitting record highs!
Stock Market News: S&P 500 Chasing Record High
The Nasdaq Composite is slightly higher. The Bitcoin price is rising. Treasury yields are falling.
www.barrons.com
MAGA!
