- The bloodbath in Chinese equities continued today, with the Shanghai Composite plunging over 5.8% amid reports that the country's securities market regulator launched a probe into suspected market manipulation.
- Following a slump of nearly 30% in Chinese stocks since mid-June, China Securities Regulatory Commission has now set up a team to look at "clues of illegal manipulation across markets."
- A flurry of policy moves over the past week, including an interest rate cut, attempts to curb short selling and a relaxation of margin lending rules, have all failed quell the sell-off that is sharply turning into a full-blown crash.
- Shenzhen -5.3%; ChiNext -1.7%.
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