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Chinese shares trade lower again after days of volatility | Chinese shares trade lower again after days of volatility |
(about 4 hours later) | |
After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing's efforts to calm markets. | 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 1.5% down to 3,735.92 points. | |
The negative open comes after the index had seen strong volatility since the beginning of the week. | The negative open comes after the index had seen strong volatility since the beginning of the week. |
Traders appeared not to respond to efforts by the central bank to provide more liquidity to stabilise markets. | |
In Hong Kong, the Hang Seng index was also pulled lower, down 1.6% to 22,794.63 points. | |
Elsewhere in Asia | Elsewhere in Asia |
Shares across the rest of Asia also fell on Thursday over worries about China's slowing growth and volatile equities. | Shares across the rest of Asia also fell on Thursday over worries about China's slowing growth and volatile equities. |
Sentiment was also dampened 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. |
The region's largest stock market, Japan, closed down. The Nikkei 225 index ended day down 0.9% at 20,033.52 points. | |
In Australia, the S&P/ASX 200 index finished with a sharp drop of 1.7% to 5,290.50 points. | |
Shares in the country's flagship carrier Qantas dropped by more than 6% despite the airline reporting a return to full-year profit earlier in the day. | |
In South Korea, the benchmark Kospi index finished 1.3% down at 1,914.55 points. |