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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Money Markets - World

Amwal Al Ghad English - 2016-01-20 09:19:31
Stock markets in Asia slumped to fresh four-year lows Wednesday as a relentless slide in oil prices snuffed out an attempted rally on Wall Street and dealt a further blow to global investors' appetite for riskier assets. European stocks were expected to fall sharply at the open on Wednesday with financial spreadbetters predicting Britain's FTSE 100 .FTSE to open down 2 percent, Germany's DAX .DAXI to fall 2.4 percent and France's CAC .FCHI to slip 2.2-2.4 percent. U.S. crude wallowed at its lowest since 2003 after the world's energy watchdog warned the market could "drown in oversupply". U.S. futures CLc1 shed nearly 3 percent to $27.68 while Brent crude LCOc1 lost 2 percent to $28.21 a barrel. In Asia, stocks surrendered all of Tuesday's rare gains with the MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS falling 2.6 percent on the day and hitting its lowest since October 2011. "Sentiment seems to be to be extremely negative in the commodities at the moment," said Assad Tannous, head trader at Asenna Wealth Solutions in Sydney. Leading regional stocks lower was the Hong Kong stock market .HSI with the benchmark index falling 3.7 percent on the day, its single biggest daily fall since early August, with all of its 50 constituents in the red. Japan's Nikkei .N225 closed down 3.7 percent, leaving it 20 percent below last year's peak, meeting the technical definition of a bear market. The pain was felt widely with Australian stocks down 1.3 percent and South Korea .KS11 off 2.3 percent. Chinese markets fared only marginally better than regional counterparts amid mounting talk that more stimulus may be on the way, possibly before the Lunar New Year holidays in early February. December factory output, investment and retail sales data released on Tuesday were all weaker than expected. The CSI300 index .CSI300 fell 1.3 percent, after rallying more than 3 percent on Tuesday. The Shanghai Composite Index .SSEC eased 0.9 percent. The government-backed China Securities Journal reported that Beijing had the policy space for further easing to support the economy, including raising deficit spending to around 3 percent of annual economic output. China's central bank late Tuesday revealed it would inject more than 600 billion yuan ($91.22 billion) into the banking system to help ease a liquidity squeeze expected before the long Lunar New Year celebrations. Yet such a move is usual before the holidays, and stopped well short of an actual cut in bank reserve ratios. Wall Street had seen its early gains erased by the slump in U.S. crude. The Dow .DJI ended Tuesday up 0.17 percent, while the S&P 500 .SPX rose a single point and the Nasdaq .IXIC eased 0.26 percent. U.S. stock futures ESc1 were down 1.5 percent indicating a weak start. The S&P energy sector alone dived .SPNY 2.17 percent. Oil at 12-year lows stokes fears of deeper losses for energy companies and the risk some may fail to pay their debts. Tom Porcelli, chief U.S. economist at RBC Capital Markets, noted that polls showed investors were more bearish on Wall Street than at any time since mid-1987. "Perhaps characterizing the recent bout of negativity as being 'pervasive' is an understatement," he wrote in a note. Yet history showed that sentiment was darkest before the dawn. "When investor pessimism reached these levels outside of an economic recession, the market was higher one quarter hence in every single instance, and up by an average of 6.4 percent." With risk out of favor, sovereign bonds were in demand. Yields on U.S. 10-year Treasuries declined to 2.02 percent US10YT=RR and were down a massive 25 basis points since the new year began. Other safe havens included the Japanese yen, which rose across the board. The dollar was dragged back to 116.93 yen JPY= from a top of 118.11 on Tuesday, while sterling hit its lowest since early 2014 GBPJPY=. The pound had already been under fire after Bank of England Governor Mark Carney said he had no "set timetable" for raising rates, sending it to a seven-year low of $1.4127 GBP=. Against a basket of currencies, the U.S. dollar was down at 98.814 .DXY, while the euro edged up to $1.0938 EUR=. More»
Amwal Al Ghad English - 2016-01-19 14:44:57
Stocks in the U.K. surged Tuesday, rising along with other global markets, as slowing growth in China raised hopes for further stimulus for the world’s second-largest economy. Meanwhile, the pound rose against the U.S. dollar after U.K. inflation come in higher than anticipated. The FTSE 100 UKX, +1.92% blue-chip index rose 2.1% to 5,901.72. All sectors advanced, led by jumps in shares of mining companies. Commodities producer and trader Glencore PLC GLEN, +7.88% GLCNF, -5.35% and platinum and iron ore miner Anglo American PLC AAL, +6.53% each surged about 12%. Oil producer Royal Dutch Shell PLC RDSB, +3.07% RDS.B, -5.11% bulked up by 3.3%. More»
Amwal Al Ghad English - 2016-01-19 09:42:25
Asian stocks were mostly higher Tuesday as Shanghai stocks surged after data pointing to slower Chinese economic growth fanned stimulus hopes. More»
Amwal Al Ghad English - 2016-01-18 09:19:51
Asian stocks slid Monday to their lowest levels since 2011 after weak U.S. economic data and a massive fall in oil prices stoked further worries about a global economic downturn. Spreadbetters expected a subdued open for European shares, forecasting London's FTSE .FTSE to open modestly higher while seeing Germany's DAX .GDAXI and France's CAC .FCHI to start flat-to-slightly-weaker. Crude prices faced fresh pressure after international sanctions against Iran were lifted over the weekend, allowing Tehran to return to an already over-supplied oil market. [O/R] Brent oil futures LCOc1 fell below $28 per barrel LCOc1, touching their lowest level since 2003. "Iran is now free to sell as much oil as it wants to whomever it likes at whatever price it can get," said Richard Nephew, program director for Economic Statecraft, Sanctions and Energy Markets at Columbia University's Center on Global Energy Policy. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell to its lowest since October 2011 and was last down 0.5 percent. Japan's Nikkei .N225 tumbled as much as 2.8 percent to a one-year low. It has lost 20 percent from its peak hit in June, meeting a common definition of a bear market. The volatile Shanghai Composite index .SSEC initially pierced through intraday lows last seen in August before paring the losses and was last up 1 percent. It was still down 17 percent this month. On Wall Street, S&P 500 .SPX hit a 15-month low on Friday, ahead of Monday's market holiday. "The fact that U.S. and European shares fell below their August lows, failing to sustain their rebound, is significant," said Chotaro Morita, chief fixed income strategist at SMBC Nikko Securities. "We are coming to a stage where we need to consider the risk of recession in the global economy," he said. An unexpected drop in retail sales and the third consecutive monthly fall in industrial output in December added to the latest indication that U.S. economic growth braked sharply in the fourth quarter. Following that data, the Atlanta Federal Reserve's closely-watched GDPNow forecast model showed the U.S. economy is on track to grow 0.6 percent in the fourth quarter, slowing sharply from 2.0 percent growth in the third quarter. Investors further cut back their Fed rate hike expectations, with short-term interest rate futures <0#FF:> pricing in only one rate hike by the end of year, compared with two hikes priced in at the start of year. Outside the United States, the economic outlook appeared even bleaker, with the energy and raw material sector hit the hardest as China's massive investment-led economy slows down. MSCI's emerging stock index .MSCIEF has dropped to 6-1/2-year lows. "The biggest focus is oil prices. Oil producing countries have to sell their assets to finance their budget gaps. They are selling shares around the world," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. In currency markets, commodity-linked units were hit hard, with the Canadian dollar CAD= hitting its lowest in nearly 13 years. The safe-haven yen gave up some of its gains after having risen to a five-month high of 116.51 to the dollar JPY= on Friday. It last stood at 117.21. The euro also edged down against the dollar to $1.0893 EUR=. The Chinese yuan rose 0.6 percent CNH= in the offshore trade to 6.5808 to the dollar, however, as Chinese authorities continued to stamp down speculative yuan selling. China will start implementing a reserve requirement ratio (RRR) on some banks involved in the offshore yuan market, the People's Bank of China (PBOC) said on Monday, in what appears to be its latest attempt to stem speculation in the currency.Steps to stabilise the yuan gave battered copper prices some breathing room. Three-month copper on the London Metal Exchange CMCU3 climbed 1.4 percent to $4,390 a tonne, paring losses from Friday when prices touched their weakest since May 2009 at $4,318 a tonne. More»
Amwal Al Ghad English - 2016-01-14 09:13:59
Asian stocks fell Thursday in the wake of steep losses on Wall Street, as Brent crude oil skidded to 12-year lows amid a commodities rout that heightened fears about the global economy. European markets were expected to open sharply lower. Financial spreadbetters predicted Britain's FTSE 100 .FTSE and Germany's DAX .GDAXI to each open down by as much as 1.7 percent, and France's CAC 40 .FCHI to open as much as 1.8 percent lower. "A lot of recent data has emphasized that the bottom has not quite fallen out of the global economy, but a negative feedback loop of self-perpetuating fear seems to have gripped global markets," Angus Nicholson, market analyst at IG in Melbourne, wrote in a note. Global benchmark Brent LCOc1 was off lows but still down 0.3 percent at $30.22, after marking a fresh 12-year low of $29.73. U.S. crude prices CLc1 added about 1 percent to $30.77 a barrel, but remained not far from Tuesday's nadir of $29.93, which was their lowest level since December 2003. "Perhaps $30 or just slightly below is acting as a little bit of a floor, but that being said that's a straw in a hay barn in terms of positivity," said Ben le Brun, market analyst at OptionsXpress in Sydney. "The rest of the news is decidedly negative about oil," he said. London copper fell to its lowest since May 2009, compounding worries about the effect of China's waning growth on demand for commodities. Copper CMCU3 was last down nearly flat at $4,392.50 a tonne after earlier dropping as low as $4,330. Adding to the risk-off sentiment, a gun and bomb attack rocked Jakarta, which helped send the rupiah down around 1 percent against the dollar at one point to as low as 13,960 IDR=ID. Indonesia's benchmark stock index .JKSE was down 1.7 percent. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 1.4 percent. China's recently volatile main stock indexes reversed earlier losses, with the Shanghai Composite Index .SSEC trading up 0.9 percent and the CSI300 index .CSI300 up 1.1 percent. South Korea's KOSPI .KS11 slipped 0.9 percent, after the country's central bank kept interest rates unchanged for a seventh straight month as expected. The Bank of Korea said it would monitor recent market turmoil sparked by developments in China as well as the effects of the U.S. Federal Reserve's December rate hike. Japan's Nikkei .N225 ended off lows but still shed 2.7 percent, as downbeat domestic data added to the gloom. The yield on the benchmark 10-year Japanese government bond JP10YTN=JBTC touched a fresh record low of 0.190 percent. Japan's core machinery orders fell 14.4 percent in November from the previous month, down for the first time in three months and marking a bigger decline than economists' median estimate for a 7.9 percent drop. "Investors are increasingly worried that the (U.S.) market is not strong enough to withstand an initial view that the Fed would hike rates four times this year," said Masashi Oda, senior investment officer at Sumitomo Mitsui Trust Bank. Boston Fed President Eric Rosengren sounded a cautious tone overnight, saying global and U.S. economic growth may be slipping and could force the Fed into a more gradual course of rate hikes than officials currently expect. On Wednesday, better-than-expected China trade data lifted Asian sentiment and gave equities and commodities prices a much-needed boost. But those gains unraveled later in the global session, and major U.S. stock indexes finished with sharp losses. The benchmark 10-year U.S. Treasury yield US10YT=RR plumbed its lowest levels since late October as investors sought safety in government debt. It stood at 2.082 percent in Asian trade, compared with its U.S. close of 2.066 percent on Wednesday. Undermined by lower U.S. yields, the dollar lost ground to its perceived safe-haven Japanese counterpart, though it clawed some of it back by the end of the Asian session. It was buying 117.71 JPY=, down about 0.1 percent. The euro was nearly flat at $1.0873 EUR=. Sterling was steady at $1.4404 GBP= ahead of the Bank of England's policy meeting later in the session that is expected to signal a delay in hiking interest rates. Market participants continued to keep an eye on China's yuan, which weakened even after the People's Bank of China set its midpoint rate CNY=SAEC at 6.5616 per dollar prior to market open, firmer than the previous fix of 6.563. The PBOC has held the line on its currency in the past few days, calming some fears of a sustained depreciation. More»
Amwal Al Ghad English - 2016-01-14 09:10:06
China’s stocks rebounded from the brink of a bear market in a late-day swing as the lowest valuations in four months lured bargain hunters and a group of smaller companies pledged to support their share prices. The Shanghai Composite Index gained 2 percent to 3,007.65 at the close, reversing a loss of as much as 2.8 percent and sending a gauge of volatility to the highest levels since September. The ChiNext small-caps index surged the most in two months after 28 listed companies vowed to take action to stabilize the market, with some pledging not to sell shares over the next six months. State funds may have entered to buy stocks after the Shanghai index fell below the lowest levels reached in last year’s rout, according to Galaxy Securities Co. "On one hand, there’s need for a technical rebound given the steep losses, on the other the rebound also reflects related authorities’ market-preserving efforts with many small and medium companies saying holders pledge not to cut holdings,” Sun Jianbo, a Beijing-based strategist at Galaxy Securities, said by phone. “There might also be some buying by state funds, which might have propped up stocks." The Shanghai gauge earlier dropped below the low of 2,927.29 set in August, when a summer rout wiped out $5 trillion and spurred the government to impose emergency rescue measures. The index, the worst performer among 93 global benchmark measures tracked by Bloomberg this year, fell as much as 20 percent from the December high before paring losses. Oversold Shares The CSI 300 rebounded 2.1 percent, with all the 10 industries up. Technology and smaller companies led gains. In Hong Kong, the Hang Seng China Enterprises Index slumped 0.4 percent, while the Hang Seng Index retreated 0.6 percent. Stocks rebounded in the afternoon on signs of increased government efforts to stabilize the market. The China Securities Regulatory Commission assured investors that the forthcoming registration system for initial public offerings won’t lead to an oversupply of new shares, while the Shanghai and Shenzhen stock exchanges vowed to step up monitoring of share sales by companies’ major shareholders. The Shanghai gauge’s 14-day relative strength measure, measuring how rapidly prices have advanced or dropped during a specified time period, was at 25.6 on Wednesday. Readings below 30 indicate it may be poised to rise. As of Wednesday’s close, 529 of the Shanghai index’s 1,122 member stocks have relative strength index values of less than 30, compared with 280 at the bottom of a rout that erased about $5 trillion in market value in August. “The market has fallen too much and there are some investors looking for bargains,” said Dai Ming, who is keeping his stocks holdings unchanged as fund manager at Hengsheng Asset Management Co. in Shanghai. He said he would sell into rallies. The ChiNext index surged 5.6 percent after lithium battery maker Eve Energy Co. said the C28 Club, comprising the first batch of listed companies, will "take real action to stabilize the capital market.” Eve Energy surged 9.9 percent after saying that its controlling shareholder won’t sell stock for the next six months. Guangdong Wens Foodstuffs Group Co. and East Money Information Co., the ChiNext’s biggest weighted stocks, gained 3.8 percent and 8.8 percent respectively. More»
Amwal Al Ghad English - 2016-01-13 07:50:43
Asian shares made their first real rally of the year on Wednesday after Chinese data trade data beat expectations, offering a rare shaft of light for the global economy. Japan's Nikkei jumped 2.6 percent from a near-one-year trough, while battered Australian stocks gained 1.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan sped ahead by 1.6 percent and away from its lowest since late 2011. Even China's mercurial markets found some relief with the Shanghai Composite Index up 0.8 percent and the CSI300 index 0.9 percent. The good cheer spread to E-mini futures contracts for the S&P 500 which climbed 0.8 percent. The gains came after China reported its exports had risen 2.3 percent in yuan-denominated terms in December, from a year earlier while imports dipped 4.0 percent. In U.S. dollar terms, China's December exports exceeded analyst expectations, falling 1.4 pct from a year earlier, while imports fell by 7.6 percent. Analysts polled by Reuters had expected exports to fall 8.0 percent and imports to fall 11.5 percent. More»
Amwal Al Ghad English - 2016-01-12 08:02:15
China set another firm fix for its currency on Tuesday and stepped up a verbal campaign, backed by what dealers said was aggressive buying, to convince sceptical investors that they were in control of events. Analysts said offshore buying by state-owned banks, under the direction of the People's Bank of China (PBOC), dried up yuan liquidity to such an extent that overnight yuan borrowing rates in Hong Kong (HIBOR) hit a record 66.8 percent, and the spread between onshore and offshore yuan exchange rates briefly evaporated. Last week, the spread had exceeded 2 percent, making it harder for Beijing to stem the flow of capital from its slowing economy. "The strength of its (the PBOC's) actions appears to have reached the 'nuclear-weapon' level, and is comparable to that of the steps taken by other central banks when they previously fought against international speculators, such as George Soros," said a senior dealer at a European bank in Shanghai. China's equity markets, which tumbled 10 percent last week and a further 5 percent on Monday, remained volatile, going from black to red and back again. At the end of the morning session the Shanghai Composite Index .SSEC was up 0.4 percent, and the CSI300 index .CSI300 had added 1 percent. More»
Amwal Al Ghad English - 2016-01-12 07:10:01
Asian stocks held near four-year lows and crude oil prices approached a 20 percent drop in less than two weeks, as investors remained wary of China's volatile financial markets. European markets are set to open flat to slightly higher, with Britain's FTSE 100 .FTSE to open 0.5 percent up, Germany's DAX .GDAXI to gain 0.8 percent, and France's CAC 40 .FCHI to rise 0.7 percent, according to IG. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gave up early gains to trade 0.2 percent lower, just shy of its lowest level in four years. It is down more than 8 percent since the start of 2016. It fell 12 percent last year. "Investors are still concerned about the extent of China's slowdown and while we may be in the middle of a consolidation phase, we have yet to see any data indicating a turnaround which is feeding the overall uncertainty," said Ben Pedley, head of investment strategy for Asia at HSBC Private Bank in Hong Kong. With investors still licking their wounds from last year's plunge in global commodity prices and a sharp sell-off in Chinese markets, 2016 has brought about more pain for investment portfolios in the form of a deepening slowdown in the global economy and volatile Chinese markets. Japan's Nikkei .N225 fell 2.7 percent after a market holiday on Monday, closing at its lowest in nearly a year, while U.S. stock mini futures ESc1 were in the red pointing to a weak start. Beijing set another firm fix for its currency and stepped up a verbal campaign, backed by what dealers said was aggressive intervention by state-owned banks to steady markets. More»
Amwal Al Ghad English - 2016-01-11 08:01:21
China stocks fell more than 2 percent on Monday, shrugging off a firmer yuan, as data pointed to growing deflationary risks in the world's second-largest economy. The CSI300 index .CSI300 fell 2.2 percent to 3,288.80 points at the end of the morning session, while the Shanghai Composite Index .SSEC lost 2.4 percent to 3,109.95. China CSI300 stock index futures for January fell 2.4 percent, to 3,256, 32.80 points below the current value of the underlying index, suggesting investors see further losses. "The market is still a bit unstable," said Xiao Shijun, an analyst at Guodu Securities in Beijing. "Following the big move in the yuan last week, most A-shares are still under a fair amount of pressure." China's central bank allowed the yuan to weaken by over 1.5 percent against the dollar in the first week of 2016, its biggest currency move since mid August when a devaluation rattled world markets. The yuan CNY=CFXS strengthened marginally against the dollar on Monday after the central bank said a firmer midpoint reference rate for the second session in a row. Some traders believed the stronger official setting may signal the latest jolt of depreciation is over for now, though others said downward pressure on the currency will persist as the economy continues to slow. December inflation data on the weekend added to investors' concerns. China's consumer inflation barely edged up in December while companies' factory-gate prices continued to fall, adding to concerns about growing deflation risks. In Hong Kong, the Hang Seng index .HSI dropped 2.5 percent to 19,952.63 points, while the Hong Kong China Enterprises Index .HSCE lost 3.5 percent, to 8,539.73. The index measuring price differences between dual-listed companies in Shanghai and Hong Kong .HSCAHPI stood at 143.47. A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa. The northbound quota for the Hong Kong-Shanghai Stock Connect .NQUOTA.SH, currently set at 13 billion yuan, saw net outflows of 0.25 billion yuan. Total volume of A shares traded in Shanghai was 14.62 billion shares, while Shenzhen volume was 14.58 billion shares. Total trading volume of companies included in the HSI index was 1.0 billion shares. More»