China stocks extend rout despite government boost

Mainland China's stock market has suffered another day of heavy losses on Wednesday, 08 July 2015, defying renewed efforts from Chinese government agencies to shore up plunging share markets. Investors were also spooked by news that more companies have issued requests a trading halt. The vast majority of stocks listed on the benchmark index shed 10%, the maximum limit shares are allowed to fall before being halted. The benchmark Shanghai Composite Index was down as much as 8% in early trade, eventually closing 5.9% lower at 3507.19 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 2.50%, or 48.38 points, to 1884.45. China's stock market ended lower for fifth time in past six trading sessions. The Shanghai Composite has lost more than 32% down from its June 12 peak of 5166.35. The Shenzhen market was down 41% over the same period.

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