Panic Selling Grips Chinese Stocks After U.S. Tensions Worsen
Equities fall after Beijing tells Washington to shut consulate
Diplomatic spat is the worst between the countries in years
Bloomberg News
Updated on
China’s traders, company insiders and overseas investors are all fleeing the country’s stock market.
Sentiment is quickly souring amid the biggest threat to Beijing’s diplomatic ties with Washington in years. Traders based beyond mainland China sold more than $2.3 billion worth of Chinese stocks Friday, one of the largest ever outflows via Hong Kong’s exchange links. Some of China’s controlling tech shareholders are getting out as soon as they can.
