Global shares dropped drastically yesterday!

Global shares dropped drastically yesterday!
Nov 20, 2007 00:59
KATRINA Points: Join Date: Nov 29, 2004 Status: offline	Not long ago, it was reported that China top regulators had required Chinese banks to freeze its lending to cool down its economy and curb inflation. It seems that China wants to solve its inflation problem without raising the interest rates. This made Asian stock market shock. In China, the Shanghai Composite Index fell 0.9%. The shares of ICBC, Pudong Development and Bank of Communications all dropped. In Hong Kong, Hang Seng Index also decreased. The data suggests that about 1.1 billion dollars was pulled out of China stock market last week. In total, Asia market lost 2.6 billion dollars. Worry that the credit crisis will last for a long time, European and American stock also fell down yesterday. The FTSE Eurofirst 300 went down 2.1%. In London, the FTSE 100 dropped 2.7%. In US, the S&P 500 was down 1.8%. It seems that global stock markets are experiencing its hard times. Do you think dropping in global shares is normal?

Nov 20, 2007 00:59

KATRINA
Points:
Join Date: Nov 29, 2004
Status: offline

Not long ago, it was reported that China top regulators had required Chinese banks to freeze its lending to cool down its economy and curb inflation. It seems that China wants to solve its inflation problem without raising the interest rates. This made Asian stock market shock.

In China, the Shanghai Composite Index fell 0.9%. The shares of ICBC, Pudong Development and Bank of Communications all dropped. In Hong Kong, Hang Seng Index also decreased. The data suggests that about 1.1 billion dollars was pulled out of China stock market last week. In total, Asia market lost 2.6 billion dollars.

Worry that the credit crisis will last for a long time, European and American stock also fell down yesterday. The FTSE Eurofirst 300 went down 2.1%. In London, the FTSE 100 dropped 2.7%. In US, the S&P 500 was down 1.8%.

It seems that global stock markets are experiencing its hard times. Do you think dropping in global shares is normal?

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