China stocks tumbled to four-month lows on Wednesday morning as investors dumped both small and big caps, defying government attempts to stabilize the market, while nearly half of Chinese listed companies have halted trading to insulate themselves from the meltdown.
The panic in mainland markets is rippling across the border, knocking the Hong Kong market down more than 4 percent. Overseas-listed Chinese companies also slumped.
The Shanghai Composite Index opened 7 percent lower, but erased some of the losses by midday, down 3.9 percent. The CSI300 Index of China's biggest companies dropped 4.8 percent.
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The panic in mainland markets is rippling across the border, knocking the Hong Kong market down more than 4 percent. Overseas-listed Chinese companies also slumped.
The Shanghai Composite Index opened 7 percent lower, but erased some of the losses by midday, down 3.9 percent. The CSI300 Index of China's biggest companies dropped 4.8 percent.
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