China stock markets fall 7%; trading stopped Monday | Inquirer Business
Sunday, August 19, 2018
Close  
  • share this

China stock markets fall 7%; trading stopped Monday

/ 02:01 PM January 04, 2016

SHANGHAI, China — Trading on the Shanghai and Shenzhen stock markets was halted for the day on Monday after shares fell seven percent.

The drop in the CSI300 index, which covers both bourses, triggered an automatic early closure for the first time under a new system to curb volatility, after an earlier 15-minute trading halt failed to stem the declines.

ADVERTISEMENT

Trading was initially suspended after shares fell more than five percent under the new system.

BACKSTORY: Chinese stocks fall for 4th day, dropping 7.6 percent

The falls followed poor data from official and private surveys of manufacturing in the world’s second-largest economy, and with the expiry looming of measures brought in to curb China’s mid-2015 share slump.

“The market is worried about the upcoming lifting of the rule that bans shareholders from selling,” Central China Securities analyst Zhang Gang, told AFP.

“The pressure will continue to weigh on the market in the following days.”

READ: China’s abnormal stock market

As trading was suspended the benchmark Shanghai Composite Index had tumbled 4.96 percent, or 175.66 points, to 3,363.52.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, slumped 6.66 percent, or 153.76 points, to 2,155.15.

ADVERTISEMENT

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, China stock market, economy, Stock Market
For feedback, complaints, or inquiries, contact us.
lifestyle

Eight ‘Crazy Rich Asians’ moments we loved

August 20, 2018 12:35 AM

lifestyle

‘Crazy Rich Asians’ delivers joy

August 20, 2018 12:30 AM

entertainment

2 PPP directors slam CEB’s zero grade

August 20, 2018 12:06 AM

entertainment

Brillante film in San Sebastian

August 20, 2018 12:05 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.