China panic sparks share-selling frenzy

Original article by Stephen Cauchi
The Australian Financial Review – Page: 26 : 8-Jan-16

The Australian sharemarket lost ground on 7 January 2016, with the S&P/ASX 200 shedding 2.2 per cent to close at 5,010.3. The bearish sentiment was prompted by factors such as lower-than-expected building approvals data, further moves by China to devalue the yuan and the Brent crude oil price’s fall to an 11-year low. The Commonwealth Bank was 2.1 per cent lower at $A80.41 and BHP Billiton eased 4.8 per cent to end the session at $A16.33. Santos was down 7.4 per cent at $A3.25 and Telstra fell by 1.5 per cent to finish at $A5.32.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, TELSTRA CORPORATION LIMITED – ASX TLS, RIO TINTO LIMITED – ASX RIO, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, SPOTLESS GROUP HOLDINGS LIMITED – ASX SPO, RUSSELL INVESTMENTS PTY LTD, PEOPLE’S BANK OF CHINA, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX, DOW JONES INDUSTRIAL AVERAGE INDEX, NIKKEI 225 INDEX, HANG SENG INDEX, SHANGHAI COMPOSITE INDEX, STRAITS TIMES INDEX, CSI 300 INDEX

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