China's Stock Markets Open 2% Down After Epidemic Causes Global Slump
Zhang Yushuo
DATE:  Feb 25 2020
/ SOURCE:  yicai

(Yicai Global) Feb.25 - China's mainland stock markets opened around 2 percent down this morning, following a global slump as COVID-19 made its way into yet more countries. 

The Shanghai Composite Index started at 2,982.07, down 1.62 percent, while the Shenzhen Component Index opened 1.99 percent lower at 11,537.55, The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, opened down 2.02 percent at 2,218.33.

All sectors fell, with companies working with photoresists, new materials and integrated circuits among the biggest losers.

The Dow Jones Industrial Average closed 3.56 percent lower at 27,960.80 yesterday, its biggest drop since February 2018, and the S&P 500 fell 3.4 percent to 3,225.89, its worst performance in nearly two years. The Nasdaq Composite Index crashed 3.7 percent to 9,221.28.

Outside the US, the FTSE 100 lost 3.5 percent to close at 7,144.9, France's CAC-40 and Germany's DAX both dived more than 4 percent to 5,785.0 and 13,030.6, while Italy's FTSE MIB plummeted 5.43 percent to 23,427.19. Japan's Nikkei 225 Index also opened 4.48 percent lower this morning at 23,386.74, and South Korea's KOSPI opened 0.14 percent lower at 2,079.04.

Editor: James Boynton

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Keywords:   China stock market,COVID-19