Chinese stocks suffered their worst day in almost two years on Friday, with blue-chip led carnage dragging the markets into correction territory after steep falls overnight in U.S. stocks.
The benchmark Shanghai Composite Index tumbled 4.0 percent and the blue-chip CSI300 ended the day down 4.3 percent. At one point, both were down more than 6 percent.
It was the biggest single-day dive for the two since February 2016, when the fallout from a botched attempt to introduce a circuit-breaker mechanism after a market meltdown was still rattling investors.
Hong Kong shares, meanwhile, slumped to their biggest weekly loss since the global financial crisis.
Source : Reuters