Chinese Stock Markets Close Down 3-5% On Weak Data, Coronavirus Fears

Chinese Stock Markets Close Down 3-5% on Weak Data, Coronavirus Fears

Chinese stock markets closed down 3-5 percent on fears around the coronavirus pandemic and weak internal statistics

MOSCOW (Pakistan Point News / Sputnik - 16th March, 2020) Chinese stock markets closed down 3-5 percent on fears around the coronavirus pandemic and weak internal statistics.

Shanghai Composite fell 3.4 percent to 2,798.25 points, Shenzhen Composite was down 4.8 percent at 1,712.02 points.

Adding to persisting concerns around the coronavirus, China's statistics bureau said on Monday that the country's industrial production in the first two months of 2020 had fallen by 13.5 percent year-on-year, much worse than analysts' forecasts. Retail sales in the country slumped by more than one-fifth for the period.