Chinese equities took another pounding today

<p>China's blue-chip index, its CSI300, fell
to its lowest level in nearly five years on Monday.</p><ul><li>Shanghai Composite Index fell 0.9%</li><li>Shanghai's tech-focused STAR50 Index fell more than 2% to fresh record lows</li></ul><p>In Hong
Kong, stocks dropped another 2%</p><ul><li>the Hang Seng Tech Index fell more than 3% to the lowest level in 13 months</li></ul><p>Factors cited:</p><ul><li>signs of rising geopolitical tensions ahead of
Taiwan's elections this weekend, with Taiwan's defence ministry saying it had three more
Chinese balloons flying over the Taiwan Strait on Sunday</li><li>China's foreign ministry said on Sunday the
country will sanction five U.S. military manufacturers in
response to the latest round of U.S. arms sales to Taiwan</li></ul><p>China's economy, especially the fragile state of the property market, with another major firm going bankrupt on the weekend (</p><p><a href="https://www.forexlive.com/news/china-wealth-manager-zhongzhi-goes-bankrupt-amid-property-market-collapse-20240107/" target="_self">China 'wealth manager' Zhongzhi goes bankrupt amid property market collapse</a>)</p>

This article was written by Eamonn Sheridan at www.forexlive.com.