Equity is heavy across the sector after Wall Street's softness on Tuesday.
Chinese shares are particularly under the hammer.
We had a press conference today from the State Planner, the National Development and Reform Commission (NDRC), the People's Bank of China and the Ministry of Finance (MOFCOM).
The NDRC announced plans to expand the scope of trade in home appliances eligible for subsidies. This failed to support equity. Two comments from MOFCOM in China show criticism of the latest US restrictions on Chinese companies and the result is the very soft Shanghai Composite and other indices.
