Hang Seng Sheds 1,000 Points

Markets in China and Shanghai get hammered as other overseas markets also fall.
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Chinese regulators instituted another set of anti-inflationary measures over the weekend, and local indexes plummeted on the first trading day after those moves and the first trading day since the heavy U.S. selloff last Friday.

The Hang Seng Index fell 1026 points on the day, or 3.97%, to close at 23433.65. The Shanghai index fell 7.73%, to close at 3072.33. On, the Hang Seng,

China Netcom

(CN) - Get Report

lost more than 8% and

China Unicom

(CHU) - Get Report

got hit by more than 7%.

Elsewhere in Asia, Japan's Nikkei slumped 160.21, or 1.13%, to close at 14,021.17; South Korea's Kospi dropped 1.91% to end trading at 1774.38 and India's Sensex dropped 1.17% to 14,889.25.

European shares were lower in early trading also. The FTSE recently traded 35.10 lower at 5842.50, the CAC 40 stood 29.54 points lower, at 4769.84 and the Dax had fallen 59.07 points to 6756.56.

U.S. stock futures signaled a lower open in early pre-market trading as the Dow futures were at 12,210 off 85 points, the Nasdaq sits at 1969, 18 points lower, and the S&P stands at 1345.10, 9.4 points down.

This article was written by a staff member of TheStreet.com.