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Global markets: Chinese stocks drop once again

By Commodity News Service Canada

WINNIPEG, January 11 – The following is a glance at the news moving markets globally.

CHINESE STOCKS START WEEK WITH SHARP LOSSES
On Monday China’s stocks plummeted, instilling turbulence in other markets, after a weak start to the year.

The Shanghai Composite closed 5.3 per cent weaker, while the Shenzhen Composite closed 6.6 per cent lower, according to reports.

IMF DIRECTOR SAYS CHINA’S ECONOMIC GROWTH IS TRANSITIONING
Christine Lagarde, Director of the International Monetary Fund (IMF), said China’s economic growth model is seeing crucial transition, as it moves from rapid growth to more stable levels, according to reports.

Lagarde added that despite turbulence, China will remain the second largest economy in the world after the United States.

MALAYSIA’S INDUSTRIAL PRODUCTION SLOWS IN NOVEMBER
Malaysia’s industrial production index lagged in November, contracting by 1.1 per cent on a seasonally-adjusted month-on-month basis.

However, the index is 1.8 per cent higher than the same month last year.

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