Chinese shares plummeted as concerns about degenerating economic growth capped gains in Asia.
The Shanghai Composite Index traded at 2,961.47 midday, down 1.5%, still gliding close to its lows hit last summer and near a bear market. It was 16% down year-to-date.
Stock benchmarks fell as well. Japan’s Nikkei Stock Average lost 0.4%. The Hang Seng Index fell 0.8% and South Korea’s Kospi erased 1.1%.
Meanwhile, the yuan steadied even though regulators reversed several policies last week.
The material has been provided by InstaForex Company – www.instaforex.com