Graphics are produced by Reuters.
|
Investors’ gloomy economic and market view of China darkened further after a downbeat Goldman Sachs report on its banks on Wednesday sparked a widespread selloff in the country’s Hong Kong-listed banking stocks.
Goldman downgraded some major Chinese banks over government debt concerns, deepening worries over a sector already suffering from a creaking property market and sluggish economic growth.
The Hang Seng Mainland Banks Index <.HSMBI> tumbled 6.4% on Thursday to a new low for the year, its biggest one-day fall since February 2018. It is down almost 10% this week, also on course for its biggest weekly fall in more than five years.
|