Chinese stock markets tumbled by more than seven percent, forcing exchanges to suspend trading for the second time in a week.
The official Xinhua news agency said on Thursday that trading on the Shanghai and Shenzhen stock exchanges was frozen for the day.
The drop is being linked to poor economic figures, tensions after North Korea’s nuclear test and the spat between the Arab World and Iran.
The so-called “circuit breakers”, which took effect on January 1 intended to curb volatility, also kicked in on Monday to halt stock trading.
Regulators announced in December that they would introduce the emergency measures, which are aimed at preventing huge price swings.
Beijing has been trying to restore investor confidence after markets plunged in June following huge gains in the preceding year. The market meltdown has prompted a panicked, multibillion-dollar government intervention.
The benchmark Shanghai Composite Index tumbled 7.3 percent to 3,115.89 before trading was halted.
The smaller Shenzhen Composite Index slumped 8.3 percent to 1,955.88.(Al Jazeera)
Link: http://www.aljazeera.com/news/2016/01/chinese-markets-suspended-time-week-160107031427586.html
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