This year has not been a great one for Chinese stocks. In fact, it’s been the worst in a decade.
Shanghai composite, the mainland’s major share average, ended the trading year at 2,493.90 — that was approximately 24.6 percent lower than its final close of 2017.
All 10 sectors of the index were down significantly in the year, with information technology being the worst performer as it fell 34 percent, according to Chinese financial services firm Wind Information. Even the best performing sector, utilities, dropped 11 percent.
That puts the Shanghai composite’s performance at its worst since 2008, the year of the global financial crisis, when it plunged more than 65 percent.
Those dramatic losses were also seen elsewhere in China, with the Shenzhen composite plummeting about 33.25 percent and the Shenzhen component plunging around 34.44 percent in 2018 as compared to their last close of 2017. The Shenzhen component’s performance was also its worst since 2008, when it dove 63 percent, according to Wind Information.
As shares on the mainland were pummeled, Hong Kong stocks performed a bit better. The Hang Seng index notched a decline of only 13.61 percent for 2018.
from Viral News Reports http://bit.ly/2RrIiIs
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