Shanghai Composite dives nearly 8% as China markets reopen
World shares were mixed after the Shanghai Composite index tumbled nearly 8% as Chinese markets reopened on Monday and regulators sought to stabilize markets jolted by a virus that has spread to more than 20 countries and killed more than 360 people.
The Shanghai benchmark dropped almost 9% when markets resumed trading after a week-long Lunar New Year holiday that was extended by three days. It was Shanghai’s worst day since August 2015, despite the central bank’s effort to inject billions of dollars of extra cash into the markets. On Sunday, the central bank announced it was putting 1.2 trillion yuan into the markets to ensure there would be enough cash. The Shanghai Composite fell 2.8% on Jan. 23, its last day of trading before the holiday.
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