Wednesday, January 6, 2016

HOT HOT BREAKING China Halts Trading (Again) After 7% Drop

Chinese stock exchanges have closed early for the second time this week after the CSI 300 Index plunged more than 7 percent.

Trading of shares was halted by automatic circuit breakers from about 9:59 a.m. local time. 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. The CSI 300 of companies listed in Shanghai and Shenzhen fell as much as 7.2 percent before trading was suspended.


(Chart via ZeroHedge)

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