Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

Asian markets prepare for more China-led turmoil

Asian markets prepare for more China-led turmoil
Euronews logo
Text size Aa Aa

Asian markets braced themselves on opening for a further bruising in the sorry saga of what looks like a Chinese market in free fall.

A late night US sell-off laid waste to any veneer of stability on Wednesday morning despite yesterday’s rate cut by China’s central bank – its fifth since November last year.

The mainland’s benchmark Shanghai Composite dipped and rose erratically at the start, clinging on to a 0.5% rise but for how long? The index has already fallen about 16% this week.

A spark of light in the deepening gloom – Japan’s Nikkei showed some initial resilience, rallying 1.3 %.

Weeks of jitters about a slow down in China’s economy – the world’s second largest has culminated a global sell off and record falls on most markets.

The question now is what more can Beijing do to stop the rot ?