China's 'Nasdaq' Tumbles To 6-Month Lows As Crypto-Related Stocks Crash
CHINEXT - China's index of small cap and tech stocks - has tumbled in the last few days (while the major Chinese indices have risen), as blockchain-related stocks across Asia have crashed along with the cryptocurrency carnage.
As Bloomberg notes, stocks with exposure to digital currencies decline in Asia after Bitcoin and rival cryptocurrencies slumped Tuesday amid fears of regulatory crackdowns. Bitcoin pares some of loss with 5.6% gain as of 10:03am in Hong Kong.
Japan: Ceres Inc. -9.8%, GMO Internet Inc. -7.2%, Infoteria Corp. -5.1%, SBI Holdings Inc. -5%, Fisco Ltd. -5.4%, Remixpoint Co. -4.4%, Metaps Inc. -4.6%
Korea: Vidente Co. -18%, Omnitel Inc. -13%, Kakao Corp. -3.2%
China: Ygsoft Inc., Brilliance Technology Co. and Shenzhen Forms Syntron Information Co. all tumble by 10% daily limit
Source:
https://www.zerohedge.com/news/2018-01-16/chinas-nasdaq-tumbles-6-month-lows-crypto-related-stocks-plunge
