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Chinese shares dive; Hong Kong enters bear market

Aug. 20, 2015 3:23 AM ETFXI, PGJ, CHN, EWH, GCH, JFC, CAF, GXC, TDF, FXP, TAO, HAO-OLD, FCHI, XPP, YAO, CHIQ, CHII, YINN, YANG, CQQQ, QQQC-OLD, CHIX, CHIE, CHIM, YXI, ECNS, MCHI, FCA, EWHS, FHK, CXSE, KFYP, KWEB, ASHR, CHNA-OLD, KBA, ASHS, CN, CNXT, AFTY, CHAU, GLCNBy: Yoel Minkoff, SA News Editor24 Comments
  • Chinese shares sunk back into the red today as traders weighed the level of state support for equities amid concern a slowing economy and weaker yuan will spur capital outflows.
  • The pressures in the mainland are also spilling across the region, with Hang Seng officially entering a bear market during the session. The index has now dropped more than 20% from a high reached in April.
  • In yuan news: The IMF signaled the renminbi won't be added to its basket of reserve currencies for at least another year, despite many analysts seeing confidence in China's new pricing regime.
  • Shanghai -3.4%; Hang Seng -2.4%
  • ETFs: FXI, ASHR, EWH, CAF, YINN, KWEB, PGJ, GXC, FXP, HAO, YANG, TAO, CHIX, CHN, PEK, CHIQ, CQQQ, MCHI, TDF, QQQC, XPP, YAO, GCH, ASHS, YXI, CN, CHXF, FCA, CHNA, CNXT, CHII, ECNS, CHIE, EWHS, CHIM, KBA, KFYP, FCHI, JFC, FHK, AFTY, CHAU

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