Mubasher: China’s stock markets got off to a rough start in 2016 on concerns about economic slowdown as well as weak factory activity in December.
The country's central bank set yuan exchange rate at 6.5032 per dollar, compared with 6.5992 previously.
Shanghai index dived 6.86% to 3,296.26 points, and Hang Seng index tumbled 2.68%.
Shenzhen and Shanghai stock markets were halted twice 15 minutes after plunging more than 6%.
