Asian stocks are tumbling after the New Year break

Investors haven’t had a good start to the Chinese Year of the Monkey.

While stock markets remain closed on mainland China, those that opened after the Chinese New Year break on Thursday in Hong Kong and South Korea saw major falls right from the open.

Hong Kong’s Hang Seng Index plunged 5% at the start and then recovered to a loss of just over 4%.

The Hang Seng China Enterprises Index, a measure of mainland Chinese stocks listed in Hong Kong, slid 5.1% — the biggest drop since August last year.

Here’s how that looks:

Korea’s Kospi Index also suffered the same fate, falling more than 2% at the open.

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