The Shanghai Composite Index and the Hang Seng plummeted on Thursday.Visit Business Insider for more stories.
In China, the Shanghai Composite slumped 2.8% and the SZSE Component dropped 3.5%. Similarly, Hong Kong's Hang Seng fell 1.5% and Japan's Nikkei fell 1%.Airline stocks lost altitude with Air China down 4.4%, China Eastern Airlines down 3.4%, and China Southern Airlines down 3.7%. Media stocks also suffered with Wanda Film down 7% and Beijing Enlight Media down 5%.
"The sectors most likely to be impacted are tourism, retail sales, and airlines," Seema Shah, chief strategist at Principal Global Investors, said in a morning note."Healthcare and pharmaceuticals are clear beneficiaries."
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