Chinese stocks plunge more than 6%

February 26 02:39 2016

China’s Shanghai composite index plunged more than 6% Thursday — its biggest one-day drop in a month — amid ongoing fears about the health of the world’s second largest economy. The benchmark dived 6.4% to 2,741.25, days before finance ministers from the Group of 20 major rich and developing economies meet in Shanghai.635572339866434100-AP-China-Financial-Markets

Other Asian stocks were mixed — Japan’s Nikkei 225 rose 1.4% to finish at 16,140.34 while Hong Kong’s Hang Seng was 1.6% lower at 18,888.75. South Korea’s Kospi gained 0.3% to 1,918.57. Australia’s S&P/ASX 200 inched 0.1% higher to close at 4,881.20. U.S. stock futures were around 0.2% higher Thursday. U.S. crude was down 1.3% at $31.74 a barrel and Brent crude was 1.5% lower at $33.91 a barrel at around 5 a.m. ET.

European stocks were higher with Germany’s DAX up 0.7%, France’s CAC 40 1.4% higher and Britain’s FTSE 100 up 1.8%. Wall Street pulled out of an early slide to close higher Wednesday. Investors are hoping the G20 meeting on Friday and Saturday will spur moves to shore up global growth.

view more articles

About Article Author