Concerns In China As Stock Market Dips More Than 8%
There are concerns in one of the world’s largest economies following a major plunge in the Chinese Stock market. Despite efforts by the government to prop up market valuation, shares in China fell by more than 8% making it the biggest dip in share valuation in eight years.
There’s been precious little to explain the rapid fall in share prices after stocks enjoyed massive gains in the last 12 months.
2,247 companies lost considerable share prices with only 77 companies gaining, with speculations that the dip might be as a result of falling profits from China’s industrial firms.
Some speculate that it is the government’s interference in trying to shore up share prices that has inadvertently contributed to this long run price decline.