Dax: leading index falls to lowest level since January – SPIEGEL ONLINE

The difficult economic situation in China and news from the US weighed heavily on the German stock market. The Dax widened on Thursday from its losses and went with a significant decline of 2.34 percent to 10,432.19 points from the market. That’s the lowest level since January of this year – for the year as the leading index is thus just under six and a half percent in Plus

The MDAX lost one: He gave 2.52 percent to 19,882.71 points after.. The technology index TecDAX lost 3.59 percent to 1685.62 points.

The stock markets oriented itself on the losses of the Asian stock markets. Especially in China reported this on Thursday again significant losses. The leading index on the Shanghai Stock Exchange closed with a loss of 3.42 percent at 3664 points. The Shenzhen Stock Exchange plummeted by three percent. The stock market in Hong Kong lost 1.77 percent and closed at its lowest level in eight months

The Chinese economy is weakening increasingly:. Recently, exports fell by 8.3 percent year on year in July, also industrial production, investment and auto sales fell significantly. Last week the central bank had approved in Beijing that the country’s currency, the yuan depreciated sharply.

In the US, the business climate in the Philadelphia area had brightened more than expected in August. Thus according to estimates by market players a turnaround in interest rates in the US in September is more likely. It would be the first rate increase since the financial crisis.

In addition, loaded a higher against the US Dollar Euro exchange rate. A more expensive single currency raises prices of German companies on the world market and thus worsen their competitiveness. “The economy languishes in the Middle Kingdom, fewer German products are already sold in China – a strong euro strengthened that,” said Baader Bank chief analyst Robert Halver

The Dax lost for months.. Background include the financial crisis in Greece and concerns about China’s economy. At the beginning of the German index had benefited from the loose monetary policy of the European Central Bank and with 12,390 points reached its record high in April.