(From Reuters)

Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by 7%, igniting fears of competitive devaluations across Asia.

Less than half an hour after the market opened, Chinese stock trading was suspended for a second time this week.

Brent crude prices skidded over 5% to an almost-12-year-low of $32.16 LCOc1, with worries over weaker demand from China adding to a persistent drag on prices caused by oversupply and near-record output levels.

European stock markets followed Asia lower, with the pan-European FTSEurofirst 300 index .FTEU3 down 2.3% and the euro zone’s blue-chip Euro STOXX .STOXX50Eindex falling 2.5%. Read More

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Leave a comment

Your email address will not be published. Required fields are marked *