China shares nosedive by 7%, trading suspended

  • The Chinese stock markets suspended trading activities for the second time this week after shares dropped by seven percent. The regulators in China called off trading within half an hour of the opening after the People’s Bank of China (PBoC) weakened the value of yuan against the dollar by 0.51 percent. The recorded fall in yuan is the biggest since August 2015 when the value depreciated by five percent in a week.