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Investors flee Chinese stocks and bonds

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For the third day in a row, investors are throwing out everything that has to do with China.

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Hong Kong’s stock market fell more than 5 percent during the day on Tuesday to close 4.2 percent lower. China’s CSI300 index fell 3.5 percent, even more than Monday’s 3.2 percent decline. Since February, 18 percent has fallen, leaving China almost in a bear market. A bear market is a stock market that is in a downtrend.

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Chinese regulators have intervened in several sectors in recent months, including financial services, real estate and education. Investors seem to be finding it increasingly difficult to price in that political risk. At the moment there are no bottom fishermen.

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The fall in Chinese stocks is also being felt closer to home. The insurer Ageas

has important activities in the region and loses 1.9 percent in Brussels. Prosus tumbles in Amsterdam

– the major shareholder of the Chinese e-commerce giant Tencent – another 8 percent.

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Chinese equities will soon take another hit on Wall Street, despite a historic two-day Friday and Monday. The Nasdaq Golden Dragon China Index, which includes the 98 largest Chinese stocks on Wall Street, has already lost 15 percent since Friday and will undoubtedly lose plumes again soon. The sector has never lost so much in two days since 2008.

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There is also an exodus from Chinese bonds. As a result, the long-term interest rate rose by 7 basis points to 2.94 percent, the largest increase in a year. The yuan fell 0.6 percent to 6.52 per dollar.

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