Stocks turmoil: Japan on brink of bear market as oil falls through $28 - live updates

Discussion in 'Market News' started by Lily, Jan 18, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    All the latest economic and financial news, as world markets continue to gyrate amid fears over China’s economy

    8.17am GMT

    Japan wasn’t the only Asia-Pacific market to suffer the Monday blues.

    Hong Kong’s Hang Seng index fell by 1.1%, hitting a three-year low, as fears over China’s economy hit confidence again.

    8.08am GMT

    Japan’s stock market is on the brink of a new bear market, after being hit by the global market turmoil.

    Nikkei ends down 1.1% at 16955.57, closes below 17,000 for 1st time since Sept.

    7.52am GMT

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    After the worst start to a New Year ever, world markets are facing another week of turbulence.

    Related: Rouhani hails 'turning point' as Iran embraces post-sanctions era

    Regarding China, we don’t see the cataclysmic 2008-style ‘credit crunch’ forming that some market participants do, but that doesn’t mean that we are not concerned.

    There are significant risks. China now accounts for approximately 17% of global GDP; up from 10% in 2005. Any material slowdown in the second largest economy in the world would have significant ramifications for the rest of the globe. China is attempting to make the transition from a manufacturing-led economy to a service-led economy – a transition that took the UK generations – in a decade or so. That process is not going to be without difficulty, and the Chinese authorities are learning as they go. Mistakes will happen.

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