Chinese shares trade halted after 7% plunge
benchmark n. 基准 –CET6
plunge v. 突然地下降 –CET4
halt v. 停止 –CET4
trigger v. 引发,引起;触发 –CET6
suspension n. 悬浮;暂停;停职 –CET6
curb v. 控制;勒住 –CET4
shrink v./n. 收缩 –CET4
Trading on China's mainland benchmark index- the Shanghai Composite - was closed on Monday after the market dramatically plunged 7%.
Trading was initially halted for 15 minutes after the stock market fell by 5%, triggering an automatic 15-minute trading suspension under a new system created to curb volatility.
But then shares continued to fall, leading regulators to close the market.
A manufacturing survey earlier pointed to more bad news for the economy. The Caixin/Markit purchasing managers' index (PMI) slipped to 48.2 in December, marking tenth consecutive month of shrinking factory activity in the sector.
A reading below 50 suggests a contraction in the sector, while anything above 50 suggests growth.