Global markets slumped compound by worry of US losing momentum

Global markets tumbled. US Dow Jones ended lower the day before setting the scene for a sour performance when Asian markets reopened, Shanghai and Hang Seng led the sell off and other Asian markets followed through, recording an average heavy sell off over 2% in a single day.

Global markets slumped yesterday while US Dow managed to cap the loss to 0.5% recovering from early loss of 1.65% in the afternoon. Getty Images Source: Getty Images

ASX200 surprised by market by capping the sell off by just 1.1%.

In Europe, EU rejected Italy’s budget as expected and Saudi’s increasing diplomatic isolation gave markets extra reason to head south. Whereas US corporates earning reports even though meeting expectation but future outlook looked grim. As a result, investors flee for safer haven.

As the downward pressure of China economy is mounting, as recently revealed in its economic figures, we invite the Director of Shinewing International Trade, David Chu, who has just returned from China on business trip, to share his view on how China is coping with the mounting pressure of foreseeable economic downturn.