Despite the best efforts by policymakers to stem the bleeding, Chinese stocks fell heavily in Thursday trade.
The benchmark Shanghai Composite index had lost a further 3.5%, taking its total losses over the past 13 trading sessions to 25%. The CSI 300 and tech-heavy ChiNext indices declined by a similar margin.
China’s stock market has become increasingly volatile with some of the largest intraday swings on record occurring in recent sessions.
So far today the Shanghai Composite has traded in a 285 point range, or 7% of yesterday’s closing level.