CHINA: Stocks have tumbled across Asia, with China’s main index losing 8.5% in tumultuous trading as investors panicked by economic uncertainty unloaded shares in practically every sector.
The Shanghai composite index slid to 3,209.91 as many China-listed companies hit their 10% downside limits.
The benchmark has lost all of its gains for 2015, though it is still more than 40% above a year ago.
Angus Nicholson, a market analyst, said: “It is a key moment for China. The equity market in free fall, the banking system increasingly starved of liquidity, rising capital outflows, and a slowing economy.”
Bloodletting spread as Hong Kong’s Hang Seng fell 5.1% and Japan’s Nikkei 225 dropped 4.6%.
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