China stocks dive 7% on weak manufacturing data

Mubasher: Chinese stock markets tumbled 7% in their opening session of 2016 on Monday, hurt by weak factory activity surveys.

Shenzhen and Shanghai stock markets were halted 15 minutes after plunging more than 6%.

Fluctuations will likely increase in global stock and commodity markets amid severe speculations, said capital market expert Abdul Nasser Al-Otaibi.

A private survey early in the day showed China's factory activity contracted for the 10th straight month in December, and at a sharper pace than in November.

MUBASHER Contribution Time: 04-Jan-2016 07:24 (GMT)