Focus on Asia: Shanghai stock market suffers heavy losses

The Chinese stock market suffered its worst day of trading in 10 years on Tuesday. The benchmark Shanghai Composite Index fell nearly 9 percent, its worst daily performance since 1997. The exchange closed earlier than usual. More than 800 corporations lost considerable market value. Especially the bank, metal and car industry was affected. In the past twelve months prices have been climbing up more than 130 percent. Several times the Chinese financial authority had issued warnings regarding a speculative bubble.

Source: Neue Z├╝rcher Zeitung


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