Everywhere You Look in China Are Signs of More Market Misery
- Weak manufacturing data highlight slowing growth momentum
- Tensions between US and China are adding to the headwinds
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Things are going from bad to worse for Chinese equities, with a key index tumbling into a bear market as disappointing manufacturing data added to the bleak outlook.
A gauge of Chinese stocks in Hong Kong dropped over 20% from its recent peak to enter a bear market while the Hang Seng Index also retreated. The offshore yuan plummeted to a six-month low while commodities from copper to iron ore slumped.