06/22/2015
Asia / Equities
China’s SHCOMP plunged 6.4% as liquidity concerns continued to linger.
China’s SHCOMP plunged 6.4% as liquidity concerns continued to linger. 25 companies went public last week, freezing up to CNY6.7 trillion of funds. For the week, the SHCOMP ended 13.3% down, the worst weekly fall since the global financial crisis in 2008.
Stocks in Thailand took a tumble after the country confirmed its first Middle East Respiratory Syndrome, or MERS, case. This dampened sentiment in the tourism sector, hit earlier by news of a safety rating downgrade by an international aviation agency. Thailand’s tourism sector accounts for about 10% of the economy’s growth.
India’s Sensex rose 0.7%, marking the sixth straight sessions of gains as heavy monsoon rains eased drought-related concerns. Reliance Industries, one of the 10 largest stocks on the Sensex, jumped 12% last week, capping the best performance in six years, on optimism over the launch of its 4G mobile services.
