The biggest loser in the Bel20 this morning was the holding company Ackermans & van Haaren, which was almost 7 percent in the red after two hours of trading, the largest drop in more than two years. The holding company came before the stock exchange with a quarterly update, which shows that its subsidiaries CFE and DEME are suffering from rising costs. The share of CFE in turn lost almost 12 percent. Cinema chain Kinepolis (-4.3 percent) and chemical group Solvay (-4 percent) were also among the biggest losers.
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The stock markets in Asia also went deep into the red. The Chinese tech sector in particular took a hard hit, including a disappointing trade update from Tencent in combination with a weaker outlook for global growth. The Hang Seng Tech Index fell by more than 5 percent in the meantime, Tencent and Alibaba lost 7 percent of their market value.
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