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China's stock market meltdown continues


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China's stock market meltdown continues

The meltdown continued on China’s stock markets on Wednesday with the two main bourses falling around 6 percent each.

The CSI300 index of Shangai and Shenzhen closed down 6.8 percent, while the Shanghai Composite Index fell 5.9 percent.

That means China’s top shares have lost around a third of their value since the end of June.

China’s financial regulator has warned of “panic sentiment” gripping investors as another 500 firms called a trading halt in their shares.

That means almost half of the markets’ listed firms are no longer being traded.

Amid what some analysts described as a “stampede” to get out of the market, fears are rising of a slowdown in the Chinese economy and the impact that would have globally.

Several media have described the rout as China’s version of the Wall Street Crash of 1929, which led to the Great Depression.

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