Comments via the Chinese state media
In case you missed it, Chinese stocks were battered today with the Shanghai Composite and CSI 300 indices falling by nearly 8% - posting their biggest fall since 2015. As mentioned earlier, it represents the sixth largest decline in the Shanghai Composite since 2000:
Chinese officials have been out and about throughout the day to try and spread calm surrounding the situation and they have also taken up a plethora of measures to ensure the rout wasn't as bad as feared over the weekend.
It's still too early to say that we have seen the worst behind us with regards to the drop in Chinese assets, but with such sharp price movements there is always the potential for a correction - especially if you weigh up the move against valuations/fundamentals.
The fear is that the coronavirus outbreak situation may still get worse before it gets better but that is something that the world and markets will have to figure out one day at a time.
