Europe opens down, Milan -0.04% Hong Kong and Chinese stock exchanges collapse

2021-07-26T07:46:40.987Z

European markets opened in negative, after four consecutive sessions of clear increases. Milan is the best with -0.04%; losses close to half a point for Frankfurt, Paris and London. While it was a two-sided day for the Asian stock exchanges. Tokyo, which last week hit its seven-month lows, rebounds by more than 1%, while Hong Kong and the Chinese markets collapse, all down by more than 2.5 points. As a result of two news items: the Central Bank's request to private credit institutions to increase mortgage rates for first-time home buyers, which shook the real estate sector, and the announcement of an imminent squeeze on foreign investment in the sector education and tutoring. Here, the impact on stocks was immediate, with some losing as much as 40%. Therehowever, it is also a more general movement on the part of large international investment funds, which after a much better than expected season of American quarterly, are shifting their attention - and therefore their capital - to Wall Street, leaving aside at least for the emerging markets especially in Asia.