Chinese stocks, having closed down more than 5% on Thursday, have seen some wild volatility in early Friday trade.
After initially rallying close to one percent the Shanghai Composite did an abrupt U-turn, dropping close to five percent from its session high — all this in just the first hour of trade.
At it’s low point for the session today, 4,431, from its high yesterday, 4,987, the index fell more than 11%. That’s a technical correction in less than one day.
While it has since recovered the movements in the index, along with others in China, remain highly-volatile at present.
We’ll have a full report once Chinese markets pause for lunch, and when we can catch our breath.
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