Asian stocks fall as China halted after market plunge

The AP reports:

- Chinese stocks nosedived on Thursday, triggering the second daylong trading halt of the week and sending share markets, currencies and oil prices lower as investor jitters rippled across Asia.

The benchmark Shanghai Composite Index tumbled 7.3 percent to 3,115.89 before new "circuit breakers" suspended trading for the day. The smaller Shenzhen Composite Index slumped 8.3 percent to 1,955.88.

Government measures introduced last year to prop up share prices after a meltdown in June are being gradually withdrawn while investors are also unnerved by possible signs China's economy is in worse condition than thought.

"The sell-off in Chinese equities we have seen this week only emphasizes the point that the stock market intervention may have only delayed the sell-off," said Angus Nicholson, market analyst at IG in Melbourne, Australia.

Just a reminder, on what we said yesterday. Here's where the market is looking to open.