China shares drop to low over 13 months

US, WASHINGTON (ORDO NEWS) — Chinese stocks closed Monday at their lowest level in more than a year as fears of a global recession intensified amid restrictions and travel bans around the world.

The blue chip index CSI300 fell 3.4% to 3,530.31 points, the lowest since February 22, 2019, and the Shanghai Composite index fell 3.1% to 2,660.17 points, the lowest level since February 11, 2019.

However, losses were relatively limited as Beijing signaled further support for its markets and a decrease in the number of new coronavirus infections in the country.

China recorded a decrease in the number of new cases per day, while measures to contain the number of people arriving from abroad were stepped up in Beijing.

The Hong Kong Hang Seng Index fell 4.9% to 21.696.13 points, recording the largest drop since February 6, 2018. The Hang Seng China Enterprises Index fell 4.0% to 8.751.76 points.


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