China stock markets remain worst in 2016

Saturday 31 December 2016 6 months ago 48   Beijing   Print

The benchmark Shanghai Composite Index (SCI) closed Friday down 12.3 percent for the year.

Report  Web desk : China is the second-largest economy in the world and has one of the fastest growth rates of any G20 nation, but its stock markets have been among the worst performing in the world this year. Starting with a botched attempt to reduce volatility that instead triggered a spectacular meltdown, Chinese bourses have spent the year struggling against feckless policymakers, massive capital flight and a languishing currency. The benchmark Shanghai Composite Index (SCI) struggled towards the finish line Thursday down 12.5% for the year, compared to falls of 0.6% by the Hang Seng Index in Hong Kong and 2.2% for Nikkei 300 of Japan. Both markets are trading Friday. As of Thursday, it had the worst showing among the 40-plus countries tracked by Market Data Center of Wall Street Journal, behind even debt-ridden Portugal.