Trade war costs China its stock market ranking

China Eastern Will Fly United With Japan Airlines Year

China's equities in 2015 were at all-time high being in excess of $10 trillion.

After a Thursday slump, Chinese equities were worth $6.09 trillion, according to data compiled by Bloomberg.

This is unedited, unformatted feed from the Press Trust of India wire.

The yuan was quoted at 6.8694 per USA dollar compared to the previous close of 6.8381.

On the eve of the Chinese stock index Shanghai Composite fell 2%, the Shenzhen Composite is 2.4%.

"This cooperation will inject fresh dynamic into the aviation market of China and Japan, and benefit not only the development of our two airlines, but also the people between the two sides achieving great results", China Eastern's president Ma Xulun said. The US market is worth US$31 trillion.

Cristiano Ronaldo in apparent social media snub to Real Madrid
And Ramos' preferential treatment is reportedly not going down well with his fellow colleagues per Spanish outlet Marca . Spanish contingent Isco, Marco Asensio , Lucas Vasquez and Nacho came back on July 25th following their Russian venture.

Later, with the slowdown in the world economy, a government-led campaign to cut debt and this year's trade war with the US, Chinese stocks took a beating. Some industrial and tech stocks have lost up to 20 per cent.

China's Politburo, made up of the Communist Party's 25 most senior leaders, signalled on Tuesday that policy makers would focus more on supporting economic growth amid risks from the deleveraging campaign and the trade standoff. However, this did not seem to have an effect as the Shanghai Composite Index suffered its worst week since early February.

And Linus Yip, Hong Kong-based strategist with First Shanghai Securities, said Chinese markets could bounce back.

"But there's still a chance that China's stock market will recover, with total capitalisation ascending to the world's number two place again". China's role in the global financial market doesn't match its economic muscle.

Japan's benchmark Topix index has declined more than 4% in 2018, but it remains to be one of the best-performing markets in Asia amid robust earnings growth reported by companies and support from Bank of Japan's ETF purchases. Nearly 60% of companies on the gauge that have reported in the current earnings season have beaten analyst expectations.

More than 2,400 stocks fell on the two bourses, with combined turnover at 284.8 billion yuan (about 41.4 billion USA dollars). China's currency is in line for an eighth weekly retreat, the longest run since the start of the country's modern foreign-exchange rate regime in 1994. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day.


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