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China’s low GDP target gives Beijing room to address market risks

Mainland Chinese stocks have tumbled in the last few days as authorities set a relatively low GDP target and signaled a shift away from policies meant to keep the economy afloat in the wake of the coronavirus pandemic.

The Shanghai composite has dropped more than 5% over the last five trading days, with losses accelerating this week to the index’s lowest since December, according to Wind Information. Other mainland stock indexes such as the Star 50, which tracks big names on the technology stock board, and the CSI 300 are down nearly 8% or more over the last five trading days.

The indexes rose on Wednesday after U.S. markets recovered overnight from a recent sell-off.

Reference: CNBC