Sunday 29 November 2015

Asia shares fall on China caution, yuan jumpy ahead of IMF decision

Asian shares fell on Monday as Chinese stocks extended last week's sharp losses, while the yuan bounced in volatile trade hours ahead of an IMF decision on whether to promote it to a basket of global reserve currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent, and was on course to log a loss of about 2.7 percent for the month of November, after making its first gains in six months in October.
Japan's Nikkei dropped 0.4 percent, though still looked set for a monthly gain of more than 3 percent.
Mainland Chinese shares opened slightly higher but then sank 1.7 percent, after posting their biggest one-day drops in more than three months on Friday.
Market sentiment remained shaky due to the resumption of IPOs, renewed efforts by the securities regulator to clamp down on leveraged buying and concerns about the cooling economy.
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1 comment:

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