China's key stock index enters correction on valuation worries

China's key stock index enters correction on valuation worries

The Edge Markets - World·2021-03-09 05:06

(March 8): China's main stock benchmark entered a correction on Monday, on concerns about liquidity conditions and lofty valuations in some of the recently favoured stocks.

The CSI 300 Index fell 3.5% on Monday, piercing through its 100-day moving average and putting losses from its recent February 10 peak to 13%. Meanwhile, the nation's ChiNext index, a gauge of small-cap stocks, slumped 5%.

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