Roller-coaster China stock ride scaring investors away
Turnover plunges 22% as volatility soars in Shanghai
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Hong Kong
PLUNGING turnover and the world's wildest price swings mean that China's stock market just keeps getting uglier for investors.
The value of shares traded on mainland bourses has fallen to US$90 billion a day from about US$380 billion on May 28, with the difference being equivalent to the average daily trading in the US. The Shanghai Composite Index's volatility over the past 30 days was twice as extreme as the average for the biggest global markets. That's bad news for government efforts to stabilise equities, according to IG Asia Pte.
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