- Asian markets plunged during the first trading session of 2016, with declines so steep in mainland China that authorities had to halt trading there for the rest of the day.
- Besides for a flare up in tensions between Saudi Arabia and Iran that sent investors scurrying from stocks to safe havens, feeble manufacturing surveys revived concerns about Beijing's economic slowdown.
- The country's official manufacturing PMI stood at 49.7 in December, while the Caixin manufacturing PMI fell to 48.2, both below the 50 level that indicates expansion.
- Separately, the yuan will begin its new extended trading hours today as China continues to promote the currency to the international stage.
- Shanghai -6.9%; Shenzhen -8.2%; Chinext -8.2%; Nikkei -3.1%; Hang Seng -2.5%
- Previously: China's factory activity shrinks for a fifth month (Jan. 01 2016)
- 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, CXSE, FCA, CNXT, CHNA, CHII, CHIE, ECNS, EWHS, CHIM, KBA, KFYP, FCHI, JFC, FHK, AFTY, XINA, CHAD, ASHX, CHAU