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Circuit breaker triggered after CSI 300 plunges over 7%


01-07-2016 19:30 BJT

The second stock market shut-down since the new year in China. Thursday morning, the Chinese stock markets closed for the day, just half an hour after the opening bell. The shutdown set a record for the shortest trading session in China's capital market history.

The Shanghai Composite Index plunged over 5 percent in just 10 minutes after opening, prompting authorities to suspend trading for 15 minutes. The market fell nearly 2 percent more in just one minute after trading resumed and then was closed for the day.

Meanwhile, the Shenzhen Component was down more than 8 percent when it closed. According to a new trading mechanism, a five percent fall or rise in the CSI 300 index suspends trading for 15 minutes.

A 7 percent fall ends trading for the day. The so-called circuit breaker was used for the first time on Monday on the first trading day of 2016.

Jonathan Ha, CEO of Red Pulse said:"How ever the intend, not quite as intended. You see the market tumbles the way you saw earlier today."

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