China stocks in correction on policy tightening, valuations

  • 3/9/2021
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SHANGHAI (Reuters) - China’s benchmark Shanghai Composite index fell to the brink of correction territory on Tuesday, as investors worried that regulators could move to rein in frothiness in the market even as inflation fears grow. As of Tuesday, the Shanghai Composite Index had fallen 9.98% from a Feb. 18 high, just shy of the 10% fall typically defined as a correction. Other major indexes, including the blue-chip CSI300 index are already firmly in correction territory. The CSI300 closed at 4,970.99 points on Tuesday, down 16.1% from an all-time high hit on Feb 18. Shenzhen’s ChiNext has fallen 24% over the same period.

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