China Slammed Again Overnight, Shanghai Composite Down 1.74%

The fallout from Christmas Day’s rate hike continues in China, with the Shanghai Composite falling 1.74% in trading overnight. Hong Kong’s Hang Seng, closed for the holiday yesterday, fell today by a more modest 0.93%.

The fear seems to be that this rate hike is only the beginning, and China will once again need to raise rates to combat rising inflation.

The Shanghai Composite:


NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.