The Trader 

Market Outlook: Bits of China back to work today

The Trader

Financial exchanges in Shanghai, Shenzhen and Zhengzhou re-opened today after an extended Lunar New Year holiday and share prices had a lot of catching up to do. The biggest 300 companies closed off 7.7 per cent with some firms hitting the daily limit 10 per cent decline. The price of some commodities also fell. Eyewitnesses say the cities themselves are still like ghost towns with only essential trips outdoors being made. Yesterday the Peoples Bank of China announced it will be adding 150 billion yuan into the banking system to help in the fight against the coronavirus. The Caixin manufacturing PMI dipped to 51.1 from 51.5 in December.

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