From BMW to Qualcomm, China slowdown fears squeeze global stocks

Key names in commodities, luxury retail and more suffer decline in prices

BMW, which draws around 30% of its revenue from China, has seen its stock price suffer since the end of July. © Reuters

MANAMI OGAWA, Nikkei staff writer

September 7, 2023 01:57 JST

TOKYO -- As China's property slump stokes concerns over a slowdown in the world's second-largest economy, investors are shying away from global stocks with significant exposure to the Chinese market in a wide range of fields, from manufacturing to retail.

The MSCI World Index, which tracks stock prices in advanced economies, closed at 2,336.36 in local currency terms on Tuesday. It has recovered to just 2% below its July-end figure after the Chinese government on Aug. 27 announced new measures to lift stock prices.