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Germany's benchmark DAX index slumps below 10,000 points

Xinhua, January 8, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Thursday slumped by nearly 250 points, or 2.29 percent, and closed down below 10,000 points.

Investors' concern about the downside risks to Asian markets weighed on German shares. The blue-chip index on Thursday opened lower, fell shortly below 10,000 points for the first time since October 2015, touched the day-lowest level of 9,810.47, before moving upwards slightly late afternoon, and closed at 9,979.85 points.

The forecasts for DAX index over the next 3-month horizon might stay between 11,000 and 11,900 points, according to the latest ZEW-Prognosistest released on Thursday.

None of DAX components stemmed the stock's descent, among which German automobile manufactures suffered the biggest loss, as Asian markets played significant roles in their global business.

Daimler plunged by 3.85 percent, meanwhile BMW and Volkswagen dropped by 3.76 percent and 3.28 percent respectively.

Daimler was the most traded share of the day with a turnover of 567.38 million euros (around 618 million U.S. dollars). Endit