China and Hong Kong shares slide in global sell-off

by Dramelin 11:30 PM 0 comments

There`s no place to `hide` in global equity markets    50 Mins Ago | 02:22 Stock indexes in China fell early on Tuesday, tracking steep losses seen overnight on Wall Street.
Hong Kong`s Hang Seng Index was down 3.
8 percent down at 31009.
23am HK/SIN.
Meanwhile, the Shanghai composite was down 1.
9 percent down at 3422.
Markets were already under pressure this week following the pullback in the U.
Risk aversion is high with bond and gold prices gaining amid the equities sell-off.
"There`s really nowhere to hide.
If you review the market, across the board, there is very heavy selling pressure," said Hao Hong, chief strategist at China`s Bank of Communications.
Hong recommended watching for dangers rather than potential gains in the near-term, although bonds — particularly government bonds — and gold appeared to be safe havens.
On Monday, the Shanghai composite index ended the session up 0.
In Hong Kong, the Hang Seng Index closed 1.
1 percent lower at 32,245.