Stocks sink on worries about China’s economy
Hong Kong (CNN Business)Global stock markets kicked off 2019 with more steep falls triggered by new signs of economic weakness in China.
Major stock indexes in Europe and Asia dropped sharply on Wednesday after new data suggested that China’s vast manufacturing sector contracted in December.
Hong Kong’s Hang Seng closed 2.8% lower. The Shanghai Composite fell 1.2% and Australia’s ASX dropped 1.6%. Japan’s markets were closed for a public holiday.
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