Markets in Asia were down sharply and shares in China collapsed as the government put in new inflation-fighting measures.
The Nikkei fell 1.1% to 14,021. KDDI fell 2.3% to 675000. NEC rose 1.3% to 566.
The Hang Seng dropped 3.9% to 23,456. China Life (LFC) was down 4.7% to 29.30. China Netcom (CN) fell 7.6% to 21.25. China Petroleum (SNP) fell 6.8% to 7.69.
The Shanghai Composite fell 7.7% to 3,072. Bank of China dropped 7.9% to 4.33. A number of stocks fell over 10%.
Data from Reuters
Douglas A. McIntyre
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
