China stopped trading on its stock market Thursday for the second time this week as share prices plunged and the value of the Chinese currency continued to depreciate. Analysts say the situation in both markets could worsen in the coming days.
Chinese stocks tumbled 7 percent, prompting the regulator to shut down the market to avoid a further slide. The yuan slipped after the People’s Bank of China pushed down its guidance rate 0.5 percent to 6.5646 per dollar, which is the weakest point since February 2011.
Analysts expressed concern about a possible currency war in the region. China’s neighbors read more >>>
Source : VOANews.Com