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Chinese shares lead Asia lower on economic fears | |
(about 1 hour later) | |
Mainland Chinese shares led the rest of the region lower as a raft of government data over the weekend pointed to more signs of weakness in the Chinese economy. | Mainland Chinese shares led the rest of the region lower as a raft of government data over the weekend pointed to more signs of weakness in the Chinese economy. |
Growth in both fixed-asset investment, up 10.9% in August from a year ago, and factory output, at 6.1%, came in below expectations. | Growth in both fixed-asset investment, up 10.9% in August from a year ago, and factory output, at 6.1%, came in below expectations. |
The Shanghai Composite was down 3.2% to 3,097.71 - having lost nearly 40% since its peak in mid-June. | The Shanghai Composite was down 3.2% to 3,097.71 - having lost nearly 40% since its peak in mid-June. |
The Hang Seng was down 0.1% to 21,482. | The Hang Seng was down 0.1% to 21,482. |
Shares of four of China's largest brokerages tumbled as much as 7% after fines and penalties were imposed by the securities regulator for failing to conduct proper verification of clients. | Shares of four of China's largest brokerages tumbled as much as 7% after fines and penalties were imposed by the securities regulator for failing to conduct proper verification of clients. |
The four brokers were fined 178.5m yuan ($28m; £18m) and had 62.4m yuan of profits confiscated, according to the securities filings by the companies. | The four brokers were fined 178.5m yuan ($28m; £18m) and had 62.4m yuan of profits confiscated, according to the securities filings by the companies. |
Regulators have been cracking down on trading firms to stem the volatility that has rocked the markets for the past few months. | Regulators have been cracking down on trading firms to stem the volatility that has rocked the markets for the past few months. |
Fed decision weighs | Fed decision weighs |
The rest of Asian shares traded mixed, despite Friday's positive finish on Wall Street, as investors remained cautious in advance of the Federal Reserve meeting this week. | The rest of Asian shares traded mixed, despite Friday's positive finish on Wall Street, as investors remained cautious in advance of the Federal Reserve meeting this week. |
All eyes are on the US policy meeting, which ends with a decision on Thursday on whether to raise interest rates for the first time in almost a decade. | All eyes are on the US policy meeting, which ends with a decision on Thursday on whether to raise interest rates for the first time in almost a decade. |
Economists are split on whether the long-awaited move will happen. | Economists are split on whether the long-awaited move will happen. |
Japan's benchmark Nikkei 225 index was down 1.7% to 17,949.32 points. | Japan's benchmark Nikkei 225 index was down 1.7% to 17,949.32 points. |
Japanese investors are also looking ahead to the conclusion of the Bank of Japan's two-day policy meeting on Tuesday, where they are expected to maintain their easing programme. | Japanese investors are also looking ahead to the conclusion of the Bank of Japan's two-day policy meeting on Tuesday, where they are expected to maintain their easing programme. |
In Australia, the benchmark S&P/ASX 200 was up 0.4% to 5,089.70. | In Australia, the benchmark S&P/ASX 200 was up 0.4% to 5,089.70. |
Shares in Oil Search were down 1.1% after it rejected an $8bn (£5.2bn) takeover proposal from Australia's biggest energy firm Woodside Petroleum, saying the offer was too cheap. | Shares in Oil Search were down 1.1% after it rejected an $8bn (£5.2bn) takeover proposal from Australia's biggest energy firm Woodside Petroleum, saying the offer was too cheap. |
South Korea's benchmark Kospi was down 0.8% to 1,924.61. | South Korea's benchmark Kospi was down 0.8% to 1,924.61. |