Chinese stocks are tanking again, dragging regional markets lower

Led by another steep plunge in China, Asian stocks have endured another tough session so far on Tuesday.

In China, the benchmark Shanghai Composite index closed the morning session off by more than 2.5%, extending its losses from June 12 to 41%.

As on Monday, large cap stocks are outperforming their smaller rivals, with the Shenzhen Composite, ChiNext and CSI 500 indices all off by more than 3%.

With the exception of the Nikkei in Japan and KOSPI in South Korea, Asian markets are trading in the red.

Australia’s ASX 200 has cascaded lower in line with the sell off in Chinese stocks. The index is sitting down 1.40% with a little over two hours to trade. In Hong Kong, the Hang Seng is also lower by 0.43%, a comparative outperformance compared to its mainland Chinese peers.

While higher, the Nikkei in Japan has trimmed its daily advance to 0.69% having been up more than 2% earlier in the session. The Bank of Japan’s decision to leave monetary policy setting unchanged at its September meeting, something that has seen the yen strengthened against the US dollar, is contributing to the mid-session swoon.

With Asian markets mixed, US stocks futures are trading flat.

The full regional scorecard is found below.

Stocks

  • ASX 200 5025.10 , -71.37 , -1.40%
  • Nikkei 225 18089.65 , 123.95 , 0.69%
  • Shanghai Composite 3036.15 , -78.65 , -2.53%
  • Hang Seng 21469.47 , -92.43 , -0.43%
  • KOSPI 1932.31 , 0.85 , 0.04%
  • Straits Times 2844.38 , -27.09 , -0.94%
  • S&P 500 Futures 1955.00 , 1.00 , 0.05%

Forex

  • USD/JPY 120.06 , -0.16 , -0.13%
  • USD/CNY 6.3681 , 0.0017 , 0.03%
  • AUD/USD 0.7131 , -0.0004 , -0.06%
  • NZD/USD 0.6319 , -0.0005 , -0.08%
  • AUD/JPY 85.61 , -0.17 , -0.20%
  • EUR/USD 1.1323 , 0.0005 , 0.04%
  • GBP/USD 1.5430 , 0.0006 , 0.04%
  • USD INDEX 95.179 , -0.0670 , -0.07%

Commodities

  • Gold $1,107.05 , -$1.35 , -0.12%
  • Silver $14.38 , -$0.03 , -0.21%
  • WTI Futures $44.17 , $0.17 , 0.39%
  • Copper Futures $2.423 , $0.01 0.35%
  • Iron Ore Futures ¥397.50 , -¥8.00 , -1.97%

10-Year Bond Yields

  • Australia 2.694%
  • New Zealand 3.285%
  • Japan 0.365%
  • Germany 0.658%
  • UK 1.852%
  • US 2.178%

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