Beijing, China (BBN)-After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing’s efforts to calm markets.
The mainland’s benchmark Shanghai Composite was 1.3 per cent down to 3,751.48 points, reports BBC.
The negative open comes after the index had seen strong volatility since the beginning of the week.
Traders appeared not to pick up on efforts by the central bank to provide more liquidity to stabilise markets.
In Hong Kong, the Hang Seng index was also pulled lower, down 1.1 per cent to 22,905.80 points.
ELSEWHERE IN ASIA
Shares across the rest of Asia also fell on Thursday over worries about China’s slowing growth and volatile equities.
The region’s largest stock market, Japan’s Nikkei 225 index was down 0.4 per cent at 20,142.81 points.
On Wednesday, China’s Shanghai Composite fell by 5 per cent at first before recovering to close 1.2 per cent higher.
Sentiment was also muted by the weak lead from Wall Street overnight where oil companies saw sharp declines after another drop in the price of crude.
The minutes from the July meeting of the US central bank, the Federal Reserve, also failed to inspire markets.
The minutes showed policymakers thought conditions for a US rate rise “were approaching”, but there remained worries over inflation and the strength of the global economy.
In Australia, the S&P/ASX 200 index dropped 1.1 per cent to 5,318.80.
But there was better news for the country’s national carrier, Qantas, which reported a return to full-year profit. Shares in the airline edged up by 0.7 per cent.
In South Korea, the benchmark Kospi index fell 0.5 per cent to 1,930.61 points.
BBN/SK/AD