Chinese Stock Markets Shut After Shares Plunge


Justice League

Trading on the Shanghai and Shenzhen stock markets has been suspended for the day, after shares plunged by about 7%.

The Shanghai Composite Index has fallen to its lowest level in nearly three months, on what was the first trading day of 2016.

An earlier 15-minute break in trading, when shares had fallen by more than 5%, failed to stem the slump.

This is the first time that a new “circuit breaker” system – designed to curb volatility in Chinese stock markets – has been triggered.

Escalating tensions in the Middle East and poor Chinese manufacturing data are believed to be some of the factors behind the fall.

Saudi Arabia’s execution of a prominent Shia cleric over the weekend, which renewed sectarian tensions with Iran, led to a jump in oil prices.

Financial analysts are also concerned about how the market will react when measures designed to enhance stock market…

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