Asian equity markets opened on Thursday in a sea of red as investors expressed concern over the deepening emerging market sell-off, before recovering slightly later in the morning.
China’s CSI 300 index of mainland listed companies opened nearly 2 per cent lower, following disappointing data released on Wednesday on China’s manufacturing sector and ahead of potential new trade tariffs imposed by the US, before paring losses later in the day.
Indonesia’s stock market also came under pressure as overseas investors have withdrawn some $3.7bn from the market so far this year, according to data from Bloomberg, pushing the Jakarta Stock Exchange Composite index down 10 per cent year-to-date.
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