SHANGHAI, China — Trading on the Shanghai and Shenzhen stock markets was halted for the day on Monday after shares fell seven percent.
The drop in the CSI300 index, which covers both bourses, triggered an automatic early closure for the first time under a new system to curb volatility, after an earlier 15-minute trading halt failed to stem the declines.
Trading was initially suspended after shares fell more than five percent under the new system.
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BACKSTORY:
The falls followed poor data from official and private surveys of manufacturing in the world’s second-largest economy, and with the expiry looming of measures brought in to curb China’s mid-2015 share slump.
