CHINA — Trading on the Shanghai and Shenzhen stock markets was suspended after shares tumbled over 5%. Markets re-opened for a moment before officials said it would be shut down for the remainder of the day.
SHANGHAI SE COMPOSITE INDEX:
HANG SENG INDEX:
From Bloomberg: “The CSI 300 Index of companies listed in Shanghai and Shenzhen tumbled 5.4 percent before the circuit breaker came into effect. It’s the second time this week the halt has been triggered. Stocks fell after China’s central bank weakened the currency’s daily reference rate by the most since August.
Under the mechanism which became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent close the market for the rest of the day.”
China’s central bank set a weaker yuan guidance rate for the eighth day, pushing offshore yuan to its lowest level since March 2011.
This is a developing story, check back for updates.
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http://money.cnn.com/data/world_markets
