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Chinese shares trade lower again after days of volatility | |
(about 2 hours later) | |
After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing's efforts to calm markets. | |
The mainland's benchmark Shanghai Composite was 1.3% down to 3,751.48 points. | |
The negative open comes after the index had seen strong volatility since the beginning of the week. | |
Traders appeared not to pick up on efforts by the central bank to provide more liquidity to stabilise markets. | |
In Hong Kong, the Hang Seng index was also pulled lower, down 1.1% to 22,905.80 points. | |
Elsewhere in Asia | |
Shares across the rest of Asia also fell on Thursday over worries about China's slowing growth and volatile equities. | |
The region's largest stock market, Japan's Nikkei 225 index was down 0.4% at 20,142.81 points. | |
On Wednesday, China's Shanghai Composite fell by 5% at first before recovering to close 1.2% higher. | On Wednesday, China's Shanghai Composite fell by 5% at first before recovering to close 1.2% higher. |
Sentiment was also muted by the weak lead from Wall Street overnight where oil companies saw sharp declines after another drop in the price of crude. | Sentiment was also muted by the weak lead from Wall Street overnight where oil companies saw sharp declines after another drop in the price of crude. |
The minutes from the July meeting of the US central bank, the Federal Reserve, also failed to inspire markets. | The minutes from the July meeting of the US central bank, the Federal Reserve, also failed to inspire markets. |
The minutes showed policymakers thought conditions for a US rate rise "were approaching", but there remained worries over inflation and the strength of the global economy. | The minutes showed policymakers thought conditions for a US rate rise "were approaching", but there remained worries over inflation and the strength of the global economy. |
In Australia, the S&P/ASX 200 index dropped 1.1% to 5,318.80. | |
But there was better news for the country's national carrier, Qantas, which reported a return to full-year profit. Shares in the airline edged up by 0.7%. | |
In South Korea, the benchmark Kospi index fell 0.5% to 1,930.61 points. |