Asian markets are lower this morning, with the Hang Seng the biggest loser down 1.1%, on continued concern that China’s slowing economy will dampen corporate profits. China Life Insurance Co. fell over 3% after the insurer posted a decline in premium income. The Aussie dollar fell after Westpac Banking corp and the Melbourne Institute said their sentiment index for August dropped 2.5%, falling the most in 5 months. Meanwhile, mining company Vale said that “China’s Golden years of growth are over.”

 

Posted by Philip Ball | Sales and Trading