Instant Alert: 2016 has only just begun and China is already spooking markets

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   2016 has only just begun and China is already spooking markets by David Scutt on Jan 3, 2016, 9:45 PM Advertisement Chinese stocks are getting obliterated to start the new trading year, falling sharply in the wake of a disappointing manufacturing PMI report for December and further weakening in the Chinese yuan. After 45 minutes of trade, the benchmark Shanghai Composite index was down 3.38%, and was down more than 4% earlier in the session. Like Shanghai, most other indices across the nation are posting losses of around 3%, or greater. The weakness in Chinese stocks, along with the yuan, is contributing to sharp decline in stocks and higher-yielding currencies across the broader Asian region. Here’s the Asia scorecard as at 1.20pm AEDT. Stocks ASX 200 5282.70 , -13.16 , -0.25% Nikkei 225 18580.61 , -453.10 , -2.38% Shanghai Composite 3419.56 , -119.62 , -3.38% Hang Seng 21479.77 , -434.63 , -1.98% KOSPI 1934.64 , -26.67 , -1.36% Straits Times 2847.28 , -35.45 , -1.23% S&P 500 Futures 2033.25 , -2.25 , -0.11% Forex USD/JPY 119.76 , -0.54 , -0.45% USD/CNY 6.5094 , 0.0173 , 0.27% AUD/USD 0.7214 , -0.0082 , -1.12% NZD/USD 0.6764 , -0.0082 , -1.20% AUD/JPY 86.39 , -1.36 , -1.55% EUR/USD 1.0859 , 0.0001 , 0.01% GBP/USD 1.4715 , -0.0028 , -0.19% USD INDEX 98.689 , 0.0580 , 0.06% Commodities Gold $1,063.80 , $3.56 , 0.34% Silver $13.87 , $0.08 , 0.58% WTI Futures $37.59 , $0.55 , 1.48% Copper Futures ¥36,270 , -¥470 -1.28% Iron Ore Futures ¥325.50 , -¥5.00 , -1.51% 10-Year Bond Yields Australia 2.841% New Zealand 3.595% Japan 0.262% Germany 0.621% UK 1.963% US 2.266%   Share the latest business news with your network: Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011