China Halts Stock Trading After 7% Rout Triggers Circuit Breaker

Home » News » China Halts Stock Trading After 7% Rout Triggers Circuit Breaker
Chinese stock exchanges closed early for the second time this week after the CSI 300 Index plunged more than 7 percent.
Trading of shares and index futures was halted by automatic circuit breakers from about 9:59 a.m. local time. Stocks fell after China’s central bank weakened the currency’s daily reference rate by the most since August.
“The yuan’s depreciation has exceeded investors’ expectations,” said Wang Zheng, Shanghai-based chief investment officer at Jingxi Investment Management Co. “Investors are getting spooked by the declines, which will spur capital outflows.”
Under the mechanism which became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent close the market for the rest of the day. The CSI 300 of companies listed in Shanghai and Shenzhen fell as much as 7.2 percent before trading was suspended.
Chinese stocks in Hong Kong, which doesn’t have circuit breakers, slumped 4.4 percent. The offshore yuan fell to a five-year low before erasing losses.
Read More
6 months ago
0 37
10 months ago
0 34

Leave a Reply

Your email address will not be published. Required fields are marked *

New Providers
Binolla

The Broker
More then 2 million businesses
See Top 10 Broker

gamehag

Online game
More then 2 million businesses
See Top 10 Free Online Games

New Games
Lies of P

$59.99 Standard Edition
28% Save Discounts
See Top 10 Provider Games

COCOON

$24.99 Standard Edition
28% Save Discounts
See Top 10 Provider Games

New Offers
Commission up to $1850 for active user of affiliate program By Exness

Top Points © Copyright 2023 | By Topoin.com Media LLC.
Topoin.info is a site for reviewing the best and most trusted products, bonus, offers, business service providers and companies of all time.

Discover more from Topoin

Subscribe now to keep reading and get access to the full archive.

Continue reading