China stocks are poised to fall further after the Shanghai Composite Index dropped below its critical 200-day moving average support level. The gauge declined 1.5% on Monday after weak tourism spending data during the dragon boat festival added to concerns that recovery in Asia’s largest economy has lost momentum amid a lack of aggressive stimulus. The four-day losing streak has brought the measure to its lowest level since Jan. 4 and just under 2% from erasing all its gains for the year.
(Bloomberg) — China stocks are poised to fall further after the Shanghai Composite Index dropped below its critical 200-day moving average support level. The gauge declined 1.5% on Monday after weak tourism spending data during the dragon boat festival added to concerns that recovery in Asia’s largest economy has lost momentum amid a lack of aggressive stimulus. The four-day losing streak has brought the measure to its lowest level since Jan. 4 and just under 2% from erasing all its gains for the year.
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