Global Market Report - September 17

Chinese shares hit a near four-year low at the start of the new trading week, while the IMF is giving its assessment of the UK economy

James Gard 17 September, 2018 | 11:00AM

Global Market Report


China and Hong Kong indices resumed their slide at the start of the new trading week as relations between the US and China continued to be strained. President Trump is expected to sign off on $200 billion of tariffs this week, while China is refusing to negotiate “with a gun to its head”. Amid this fraught geopolitical backdrop, the Shanghai Composite Index closed at levels last seen since November 2014. Investors took notice when the index dropped through 3,000 points and it has struggled to regain these levels in recent months; 2,700 points seems to be a key technical resistance level in recent trading sessions.

Hong Kong’s Hang Seng dropped below 27,000 points on Monday morning, a loss of 1.3%, with tech bellwether and Hang Seng constituent Tencent (00700) falling over 3%.

India’s BSE Sensex also dropped 1% on Friday’s close but the index is still within touching distance of its record high just below 39,000 points.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Burberry Group PLC1,380.00 GBX1.21
Centrica PLC37.33 GBX-1.76
Oracle Corp56.12 USD0.95
Tencent Holdings Ltd605.00 HKD0.67

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James Gard  is content editor for

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