A five-day national holiday meant Chinese stocks simply delayed experiencing the ructions that hit global markets last week. The CSI, an index of big Chinese companies listed on the mainland, tumbled more than 4 per cent on Monday.
The drop came despite China’s central bank on Sunday announcing a fresh injection of cash into the domestic banking system, the latest dose of stimulus from authorities in Beijing which had began the year more concerned with curbing credit growth.
That was before Donald Trump started rewriting world trade rules, a strategy that, as recent weeks have underlined, had China as its chief target. Fears over the fallout has driven the CSI index down almost 20 per cent this year.
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