Volatility Continues in the Chinese Indices with Little Sign of Relief
What can be termed as, a rocky week for the Asian market, ended with the Chinese equities falling greater than seven percent during the early trading hours. The equities were selling off with worries of weekend referendum on the Greek debt woes.
The Chinese investors have come across heavy swings in the intra-day trading with more than ten percentage points in the current week due to great variations in the benchmark index which saw heavy declines and stimulating gains.
The bourses in China are going through bear market as the two top indices have recorded twenty percent or more decline in the last three weeks.
On Thursday, the Shanghai Composite index slid to a maximum 7.2 percent during the morning hours but recovered a little still lingering at 4.6 percent low. The index is headed for a third week of continued loss, marking the most prolonged losing streak noted in last three months.
Although Beijing is making an effort to curb the decline with, loosening the margin lending rules and also with the interest cut in June 27 yet the moves seem to have less effect on the market which is making the investors jumpy.
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