Asian shares plunge as Wall St declines fuel more sell-offs

Stocks got a dismal start to the week in Asia, with China’s main index losing up to 8.6 percent Monday as investors shaken by the sell-off last week on Wall Street unloaded shares in practically every sector. The Shanghai composite index’s tumble to 3,211.20 by midday came despite news over the weekend that regulators would allow the State Pension Fund to invest up to 30 percent of its total net assets in stocks and other equities. The China benchmark has lost all of the gains of its meteoric rise earlier in the year, though it is still up 43 percent from a year ago. Other Asian markets remained jittery, though the yo-yoing from fresh lows suggested some investors might be venturing back in to snap up bargains.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4693767,00.html

Leave a Reply

Your email address will not be published. Required fields are marked *