Tuesday, 5 January 2016

Stock Market Tips: Chinese markets turn positive after tumbling at open

Good Morning,
Chinese markets tumbled at the open Tuesday, but quickly erased early losses as Asian markets recovered from a sharp selloff in the previous session.

The Shanghai Composite tacked on 0.95 percent after initially trading down as much as 3.1 percent. The smaller Shenzhen Composite was off 0.2 percent after initially falling as much as 5 percent, while the CSI300 erased its opening losses of as much as 2.58 percent to trade up 1.4 percent. In Hong Kong, the Hang Seng Index added 0.56 percent.

In Monday's trading session, Chinese equities plunged after feeble manufacturing surveys revived concerns over the country's economic slowdown. The CSI300 dipped down 7 percent in afternoon trade Monday, resulting in trade being suspended for the day. The Shanghai Composite had tumbled 6.8 percent and the Shenzhen Composite plummeted 8.1 percent Monday.

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Other Asian equities traded mixed Tuesday with the Australian ASX 200 index down 51 points, or 0.97 percent, at 5,219.5. In Japan and South Korea, markets erased early losses to trade positively, with the Nikkei 225 up 0.28 percent at 18,502.8 and the Kospi up 0.61 percent at 1,930.52.

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