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China stocks slump 7%, trigger circuit breaker

CSI300 index falls 7.2% to 3284.74 points, while the Shanghai Composite Index lost 7.3% to 3115.89 points

People walk past a panel displaying Chinese stock market indexes in Hong Kong, China. Photo: Reuters
People walk past a panel displaying Chinese stock market indexes in Hong Kong, China. Photo: Reuters
Reuters Shanghai
Last Updated : Jan 07 2016 | 8:04 AM IST
Chinese stocks fell 7% today after less than half an hour of trading, triggering a newly-introduced circuit breaker mechanism.

Shanghai and Shenzhen markets will remain closed for the rest of the day.

The CSI300 index fell 7.2%, to 3,284.74 points, while the Shanghai Composite Index lost 7.3%, to 3,115.89 points.

Selling pressure increased in line with a slide in the yuan, which fell to its lowest level since February 2011.

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First Published: Jan 07 2016 | 7:44 AM IST

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