Mubasher: China’s stock market plunged and suffered its shortest trading day in its 25-year history on Thursday as Beijing’s growing tolerance of a weaker currency intensified concerns about capital flight.
Markets stopped trading about 30 minutes after they opened, as a newly installed mechanism to limit volatility was triggered for the second time this week.
CSI 300 Index dropped 7.2% to 3,284.74 points, and Shanghai Composite Index fell 7.3% to 3,115.89.
Shanghai and Shenzhen stock markets will be closed until the end of the day.
China stocks see remarkable selloffs on concerns about economic slowdown, in addition to drop of local currency to its lowest since February 2011, said capital market expert Mohammed Al-Shimemeri.
