Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets
ABC News
Asian stocks are mostly lower, with Chinese shares again leading the declines even after the market regulator pledged to crack down on abuses and protect small investors
HONG KONG -- Asian stocks were mostly lower on Monday, with Chinese shares again leading the declines even after the market regulator in Beijing pledged to crack down on abuses and protect small investors.
The main index in the smaller market in Shenzhen sank 5.4% but then rapidly recovered to trade 1.7% lower. The Shanghai Composite index slipped more than 2% before recovering some lost ground.
U.S. futures declined and oil prices were higher.
On Sunday, the China Securities Regulatory Commission said it would redouble enforcement of measures against crimes such as market manipulation and malicious short selling, while guiding more medium and long-term funds into the market.
The move followed others in recent days that appear to have done little to reassure investors who have been pulling money out of the markets for months. Last week, Chinese stocks capped their worst week in five years.
