China CSI300 index dives 7% before 'circuit breaker' stops trade
New market mechanism spooks foreign investors, raising fresh doubts about regulators' efficiency
Add BT as a preferred sourceShanghai
CHINA'S major stock exchanges tanked on the first trading day of the year, triggering a "circuit-breaker" that suspended equities trade nationwide for the first time and put months of regulatory work to restore market stability at risk.
The sell-off saw the CSI300 index of the largest listed companies in Shanghai and Shenzhen lose 7.0 per cent before trading was suspended, its worst single-day performance since late August 2015, the depth of a summer stock market rout.
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