Chinese stocks plunge nearly 9 percent on coronavirus fears

A woman wearing a mask walks past a stocks board displaying the Hang Sang Index closing price in Hong Kong on January 30, 2020. (AFP)

Chinese stocks collapsed almost 9 percent at the start of trade Monday, hit by fears over the spiraling coronavirus as investors returned from the Lunar New Year holiday, which was extended because of the outbreak.

The benchmark Shanghai Composite Index dived 8.73 percent, or 259.83 points, to 2,716.70, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, sank 8.99 percent, or 158.02 points, to 1,598.80.

But in Hong Kong, the benchmark Hang Seng Index edged up 0.17 percent or 43.59 points to 26,356.22 in the first few minutes.

Last Update: Wednesday, 20 May 2020 KSA 14:06 - GMT 11:06