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| China shares fail to lift on the central bank's rate cut | China shares fail to lift on the central bank's rate cut |
| (35 minutes later) | |
| Chinese shares continued to lose ground despite the central bank's latest effort to reassure traders. | Chinese shares continued to lose ground despite the central bank's latest effort to reassure traders. |
| The mainland's benchmark Shanghai Composite was down 1% in early trading to 2,934.27 points. | The mainland's benchmark Shanghai Composite was down 1% in early trading to 2,934.27 points. |
| The index had already fallen about 16% this week, sending shockwaves through global markets. | The index had already fallen about 16% this week, sending shockwaves through global markets. |
| The dramatic losses and volatility in China has shattered investor confidence and led to sharp falls in Asia and the US over the past days. | The dramatic losses and volatility in China has shattered investor confidence and led to sharp falls in Asia and the US over the past days. |
| On Tuesday, China's central bank cut its key lending rate by 0.25 percentage points to 4.6% in an effort to calm stock markets after the past days' turmoil. | On Tuesday, China's central bank cut its key lending rate by 0.25 percentage points to 4.6% in an effort to calm stock markets after the past days' turmoil. |
| It is the fifth interest rate cut by the People's Bank of China since November last year. | It is the fifth interest rate cut by the People's Bank of China since November last year. |
| Hong Kong's Hang Seng index fared slightly better than the mainland, trading flat at 21,401.73 points. | Hong Kong's Hang Seng index fared slightly better than the mainland, trading flat at 21,401.73 points. |
| China economy woes | China economy woes |
| Chinese shares had experienced a year-long rally - mainly fuelled by investors borrowing money to buy shares - which came to an end in June. | Chinese shares had experienced a year-long rally - mainly fuelled by investors borrowing money to buy shares - which came to an end in June. |
| The Chinese government then intervened in financial markets to try to maintain momentum in the economy. | The Chinese government then intervened in financial markets to try to maintain momentum in the economy. |
| Two weeks ago the central bank devalued the currency, the yuan, to boost exports - this raised fresh concerns that China's economy could be in worse shape than previously thought. | Two weeks ago the central bank devalued the currency, the yuan, to boost exports - this raised fresh concerns that China's economy could be in worse shape than previously thought. |
| Given China's central role in world trade, a slowdown in the world's second largest economy would likely reverberate around the globe. | Given China's central role in world trade, a slowdown in the world's second largest economy would likely reverberate around the globe. |
| Read more: The six Cs of the China stock slump | Read more: The six Cs of the China stock slump |
| The stocks fall in facial expressions | The stocks fall in facial expressions |
| Cautious optimism elsewhere | Cautious optimism elsewhere |
| Elsewhere in Asia, the region's largest index, Japan's Nikkei 225 edged higher on Wednesday, up by 0.9% to 17,946.41. | Elsewhere in Asia, the region's largest index, Japan's Nikkei 225 edged higher on Wednesday, up by 0.9% to 17,946.41. |
| The Nikkei's gains come after a painful week for the Tokyo index which had shed more than 8% in the past two sessions. | The Nikkei's gains come after a painful week for the Tokyo index which had shed more than 8% in the past two sessions. |
| South Korea's Kospi index was also in positive territory, trading 1% higher at 1,865.54 points while in Australia, the S&P/ASX 200 failed to make any gains and traded flat at 5,132.60. | South Korea's Kospi index was also in positive territory, trading 1% higher at 1,865.54 points while in Australia, the S&P/ASX 200 failed to make any gains and traded flat at 5,132.60. |
| Overnight, European and US markets saw another session of volatile trading. | Overnight, European and US markets saw another session of volatile trading. |
| Read more from our experts: | Read more from our experts: |
| Robert Peston: Why is the FTSE 100 shrugging off Shanghai Noon? | |
| Duncan Weldon: What next for the global economy after China market woes? | Duncan Weldon: What next for the global economy after China market woes? |
| Andrew Walker: How the China share slump affects the rest of the world | Andrew Walker: How the China share slump affects the rest of the world |
| Karishma Vaswani: China counts cost of Black Monday | Karishma Vaswani: China counts cost of Black Monday |