China stocks reach five-year lows due to escalating tensions with Taiwan and the US.

China's blue-chip index hit a five-year low on Monday, while Hong Kong stocks fell nearly 2% due to weakening mainland economy confidence and rising geopolitical tensions. The Shanghai Composite Index also declined, ending at its lowest since April 2022. The Hang Seng Index in Hong Kong dropped 1.9%, led by tech shares. Taiwan's defence ministry detected three more Chinese balloons flying over the Taiwan Strait, accusing China of threatening aviation safety and psychological warfare.

January 08, 2024
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