China Stocks Fall After New Shares Issued

May 5, 2015 Share Print 0

Chinese shares tumbled to their biggest loss in almost four months amid a flurry of new share issues, dragging down markets across much of Asia.

The benchmark Shanghai Composite closed down 4.1% to 4,298.71 – its biggest one day decline since 19 January.

Hong Kong’s Hang Seng index was down 1.3% to 27,755.54 – closing at its lowest in two weeks.
Investors were also selling after hopes receded that China would follow others in the region and cut interest rates.

Disappointing factory activity data on Monday had boosted investor confidence that China may introduce measures to help boost its slowing economy.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.