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Chinese shares down on fears of further market volatility | |
(35 minutes later) | |
Chinese shares have opened lower on fears of further market volatility and ahead of economic data expected to point to a further slowdown in the world's second-largest economy. | |
The mainland's benchmark Shanghai composite was 2.9% lower to 3,139.12. | |
In Hong Kong, the Hang Seng followed the mainland's lead, 0.4% lower to 21,528.59 points. | |
Last week, Chinese shares tumbled dramatically, sparking turmoil in stock markets around the world. | |
Elsewhere, Japan's benchmark Nikkei 225 was 0.8% down to 18,988.51 in early trade. | |
Traders in Tokyo were also taking in some weaker-than-expected economic data on the Japanese economy. | Traders in Tokyo were also taking in some weaker-than-expected economic data on the Japanese economy. |
The country's factory output was down by 0.6% in July from the previous month. | The country's factory output was down by 0.6% in July from the previous month. |
Japan's exports have been suffering from falling demand in neighbouring China. | Japan's exports have been suffering from falling demand in neighbouring China. |
South Korea also had fresh economic data to digest, struggling with the same problem as Japan. | South Korea also had fresh economic data to digest, struggling with the same problem as Japan. |
Industrial output fell as exports in the region's fourth largest economy continue to lag because of sluggish global demand. | Industrial output fell as exports in the region's fourth largest economy continue to lag because of sluggish global demand. |
The country's benchmark Kospi index fell 0.2% to 1,934.06 points. | |
Polls show business sentiment is pessimistic about the outlook for September with no expectations for a quick recovery for the crucial export sector. | Polls show business sentiment is pessimistic about the outlook for September with no expectations for a quick recovery for the crucial export sector. |
Australia's S&P/ASX 200 followed the region's trend and was also lower by 0.9% to 5,217.10 points. |