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Shanghai stocks plunged just over three percent at the open on Tuesday in what dealers described as panic selling Cheap Calgary Flames Jersey , extending a near seven percent rout a day earlier that triggered an unprecedented early close.
The benchmark Shanghai Composite Index slid 3.02 percent, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 5.03 percent at the opening.
The Shanghai index slumped on Monday over concerns about the health of the world's second-largest economy after the release of weak manufacturing data, with the 6.86 percent fall sparking a wave of selling through global markets.
Regulators halted trading early on Monday, the first day a new "circuit breaker" mechanism was in place.
Under the system, a five percent drop in the CSI300 index Cheap Carolina Hurricanes Jersey , which covers both bourses, triggers an automatic 15-minute trading halt. A fall of seven percent means the two exchanges are closed for the rest of the day.
"The market is worried that about the new circuit breaker and investors tend to avoid risk when they see uncertainties. There was excessive panic selling after the circuit breaker was triggered yesterday," Haitong Securities analyst Zhang Qi told AFP after Tuesday's drop.
"The sharp falls should only be short term and the market will recover after it calms," he added.
Later on Tuesday morning the Shanghai market had moved into positive territory with the key index up 0.21 percent, or 6.77 points, to 3,303.03 but the Shenzhen index was still down 0.94 percent Cheap Chicago Blackhawks Jersey , or 19.93 points, to 2,099.23.
- 'Reduce rushed decisions' -
The market watchdog, the China Securities Regulatory Commission (CSRC), sought to calm the panic by defending the circuit breaker.
"The circuit breaker has a big impact in stabilising the market and its main function is to provide a 'cooling off period' for the market to avoid or reduce rushed decisions made during wide swings," it said in a statement on its verified microblog.
The CSRC said Tuesday that it was formulating regulations on major shareholders' selling, but said the rules will be announced "soon" Cheap Colorado Avalanche Jersey , leaving open whether the ban will be lifted in line with the original deadline.
"Monday was the first day that the circuit breaker became effective and people didn?t understand it so well, so it led to panic in the market," Li Daxiao, an analyst at Yingda Securities, told AFP.
"The market will stabilise after it gets used to it," he said.
ANKARA, Jan. 22 (Xinhua) -- Turkey will not take a step back from its operation against the People's Protection Units (YPG) in Syria's Afrin Cheap Columbus Blue Jackets Jersey , President Recep Tayyip Erdogan said Monday.
"There is no stepping back from Afrin," Erdogan said on an award ceremony in Ankara on Monday, as Operation Olive Branch entered its third day.
Turkey had spoken with Russia and the U.S. before the operation, but couldn't convince the U.S. of something, Erdogan said without further detail.
He reiterated that the operation in Afrin will not be over before objectives are accomplished in the field, "just like the Euphrates Shield Operation" in mid-2016.
The Turkish military and the allied Free Syrian Army (FSA) rebel fighters launched "Operation Olive Branch" on Saturday, opening a new front in Syria's seven-year-long war.
XINING Cheap Dallas Stars Jersey , Jan. 22 (Xinhua) -- Electric heating now covers MadoiCounty in northwest China's Qinghai Province, local authoritiessaid Monday.
Located at the source of Yellow River, Madoi County has anaverage elevation above 4,500 meters. The heating period in Madoilasts for 11 months every year.
People living in the urban areas used to burn coal, whileherdsmen used to burn cow and sheep dung for heating, said ZhangQiang, deputy county head.
"At high altitude Cheap Detroit Red Wings Jersey , coal cannot burn efficiently, resulting inserious pollution," Zhang added.
With the help of the provincial government and the State Grid,Madoi County became a clean energy pilot county in plateau areaslast year.
All 13 coal-fired boilers in the urban area were taken out ofservice. and 33 electric boilers have been established.
"Coal-fired boilers polluted the air and the heating was notsatisfactory. We haven't seen smog outside our homes and thetemperature indoor is higher since we began to use electricity. Thecost is the same as before," said Nyimakyi, a local resident.
Electric heating will expand to more areas, including farmingand stockbreeding areas in the province Cheap Edmonton Oilers Jersey , according to a three-yearclean energy heating plan. Enditem
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