The Shanghai Composite -- the world's third largest stock exchange if you add up the value of its companies -- has lost roughly 25% since June 12, putting it officially in bear market territory
China stocks volatile after Beijing acts to avoid crash
China stocks remained volatile on Monday, despite a series of dramatic steps by officials over the weekend designed to support markets.
After opening with a gain of roughly 7%, the benchmark Shanghai Composite closed 2.4% higher on Monday. The smaller Shenzhen Composite, which also started the day in positive territory, reversed course and ended 2.7% lower.
The measures put forward by Beijing in the past few days include a commitment from brokerages to buy billions worth of stocks, and a de-facto suspension of new IPOs. In addition, the central bank has offered a new line of credit to support margin financing, a risky way to invest using borrowed money.
More...
