China’s shares have been through a wild Thursday. At first, stock exchanges in Shanghai and Shenzhen grew, yet in the end they were dominated by pessimism and ended almost 1% lower. Investors keep monitoring economic data and focus on the health of China’s economy. Volume of new bank loans dropped lower than expected in May, even though China’s Central Bank is working on easing loans conditions.
Hong Kong has dropped even lower. Local Hang Seng index lost 2.3%. The fall came after series of growth, and lost more than 10% since the beginning of May. Fed’s recent prediction on American economy progress has made its impact, too. The economy is expected to drop in 6.5% and unemployment rate is supposed to grow to more than 9%. The number of people seeking for work is around 14%.