China Market enters into a bear terrain

Mainland China stock market ended the session down on Friday, 15 January 2016, erasing more than yesterday gains and back into bear terrain. The selloff pressure mounted on fading confidence in government efforts to manage the country's markets and economy, uncertainty over the central bank's exchange-rate policy, and a report that some banks in Shanghai have halted accepting shares of smaller listed companies as collateral for loans. The Shanghai Composite Index declined 3.55%, or 106.68 points, to close at 2900.97. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, lost 102.84 points, or 3.19%, to 3118.73. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 3.4%, or 63.24 points, to close at 1796.13. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, shrank 2.86%, or 62.11 points, to close at 2112.90.

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