Trading Halt: Seven Percent Plunge in China Stock Market

Trading on Chinese stock markets halted a day after the index fell by seven percent.

Chinese stocks fell 7 percent on Thursday after less than half an hour of trading, triggering a newly-introduced circuit breaker mechanism.

Shanghai and Shenzhen markets will remain closed for the rest of the day.

The CSI300 index fell 7.2 percent, to 3,284.74 points, while the Shanghai Composite Index lost 7.3 percent, to 3,115.89 points.

Selling pressure increased in line with a slide in the yuan, which fell to its lowest level since February 2011.