Chinese stocks collapsed Monday with Shanghai’s index posting its biggest single-day drop since 2015 — and hundreds of firms plunging the maximum 10 percent — as panic set in over China’s coronavirus epidemic. The last time Chinese indices plunged as much was when an equities bubble popped in 2015. More than 2,600 stocks fell by the 10 percent daily limit, according to Bloomberg financial data. Individual Chinese stocks can only move 10 percent in either direction each session before being suspended, a measure intended to limit volatility. – Healthcare stocks gain –Many healthcare stocks gained, however, as Chinese rush to stock up on face masks and other medical supplies.

Source: Punch February 03, 2020 08:15 UTC