China loses status as world's second-largest stock market amid trade war with US

Source: CNBC

Chinese shares ceded their ranking as the second-largest stock market in the world to Japan, the Financial Times reported on Friday.

Chinese stocks were worth a total of $6.09 trillion at the market close on Thursday, the FT said, referring to figures from Bloomberg. That compared to the $6.16 trillion market value of the Japanese shares at the end of the Thursday trading session.

China's market surpassed Japan in market value in November 2014 to become the world's second-largest, the FT said. The U.S. stock market, which continues to be the world's largest, was valued at $31 trillion at the end of Thursday, it added.

The change in rankings came after Asian markets declined in the previous session amid an elevation in trade tensions after the Trump administration said it was considering increasing a proposed tariff on $200 billion in Chinese goods to 25 percent compared to an initially announced 10 percent.



Read more: https://www.cnbc.com/2018/08/03/china-loses-status-as-worlds-second-largest-stock-market-to-japan.html