The Stock Market in China Loses 9 Percent on Opening

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Trading of Chinese stocks, the CSI 300 Index, was 9.1 percent lower at the opening. The stock market reopened on Monday for the first time since January 23, after it was closed due to the coronavirus outbreak.

The decline is the largest since 2015. The Chinese National Bank (PBOC) had already anticipated the fall and made more money available for the financial markets. The bank wants to prevent economic problems from arising when investors sell shares in large numbers.

A closing of just over a week was planned for the Chinese New Year, but the planned reopening last Friday was postponed by a few days due to the virus outbreak.

The stock exchange in Hong Kong opened again in the middle of last week and has since returned considerably.

Earlier this weekend, the PBOC already announced measures to help companies in the areas affected by the coronavirus.

Banks received more money for this from the central bank and were asked, for example, to lower the interest rates on loans to companies in the area.

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