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China: Shanghai stocks plunge 4.39% at the open

The China Financial Futures Exchange said on Wednesday it would take further steps to curb excessive speculation in stock index futures trading, in its second tightening of rules in less than a week.

[SHANGHAI] Shanghai stocks opened down 4.39 per cent Wednesday on deepening gloom over the Chinese economy which slammed global markets overnight, dealers said.

China's benchmark Shanghai Composite slumped 138.94 points to 3,027.68. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 4.66 per cent, or 79.60 points, to 1,628.18.