Investor sentiment in China is already poor, thanks to volatility in the country’s domestic stock market.
And Friday’s trading action did not help.
Here’s Bloomberg with the recap:
China’s stock market was roiled by a 53 per cent surge in trading volumes that sent the Shanghai Composite Index to its biggest intraday gain since March 2009. Everbright Securities Co. said it experienced a trading error.
The benchmark Shanghai gauge jumped from a loss of as much as 1 per cent to a gain of 5.6 per cent in two minutes during the morning session as 16 of the measure’s 20 biggest companies by weighting increased by the 10 per cent daily limit. The index fell 0.6 per cent at the close. The exchange said trades will be settled as normal and Everbright said it’s investigating.
Some experts attribute some of China’s inflated home prices to investors who fear the stock market.
The Shanghai Composite is down 9% since the beginning of
Here’s the intraday chart via Bloomberg:
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