Chinese stock market marks year of turmoil

Associated Press

beijing

China’s stock market lurched lower again Monday, triggering “circuit breakers” that halted trading. The slump was the latest episode in months of turmoil for Chinese investors.

China’s market benchmark soared 150 percent between November 2014 and early June 2015, as cheerleading in the state press encouraged inexperienced investors into the market. The Shanghai Composite Index hit its peak June 12 and then fell 30 percent. A panicked government slashed interest rates and bought shares to halt the slide. Beijing gradually withdrew emergency measures starting in September as prices tentatively stabilized.

Here are some of the biggest one-day declines since June and government responses:

June 26: The benchmark Shanghai Composite Index falls 7.4 percent as part of a slide triggered by investor concern a change in bank regulations is aimed at limiting credit to finance trading.

June 27: Beijing cuts interest rates for a fourth time since November.

June 29: The government announces its main pension fund for civil servants will be allowed for the first time to invest in stocks.

July 27: After more than 1,000 companies suspend trading in their shares, the Shanghai Composite Index falls 8.5 percent despite a government ban on sales by major shareholders.

Aug. 19: The Shanghai index falls 5 percent but rebounds in the last minutes of trading to close up 1.2 percent in what analysts say might have been the last major government intervention.

Aug. 24: The Shanghai benchmark falls 8.5 percent in its biggest one-day loss in eight years.

Aug. 25: The Shanghai index loses 7.6 percent to hit an eight-month low. Beijing cuts interest rates for a fifth time in nine months.

Jan. 4: The index loses 6.9 percent in its first trading day of 2016.