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| Version 2 | Version 3 |
|---|---|
| Chinese shares hit by weak factory data | Chinese shares hit by weak factory data |
| (about 1 hour later) | |
| Chinese shares have continued their recent slide after fresh data provided further evidence of a slowdown in the country's economy. | Chinese shares have continued their recent slide after fresh data provided further evidence of a slowdown in the country's economy. |
| An official survey indicated that manufacturing activity in China contracted at its fastest pace in three years in August. | An official survey indicated that manufacturing activity in China contracted at its fastest pace in three years in August. |
| The mainland's benchmark Shanghai Composite share index fell by 1.2% to 3,166.62. | |
| In Hong Kong, the Hang Seng index dropped 2.2% to 21,185.43. | |
| The slowing of the world's second largest economy and the extreme volatility on the mainland stock markets have weighed on global equities over the past few weeks. | The slowing of the world's second largest economy and the extreme volatility on the mainland stock markets have weighed on global equities over the past few weeks. |
| Chinese mainland stocks have been on a steep downward slide over the past few months, shedding almost 40% since June. | Chinese mainland stocks have been on a steep downward slide over the past few months, shedding almost 40% since June. |
| Market crackdown | Market crackdown |
| Any fresh indication that China's woes are set to continue is likely to frustrate Beijing's attempts to reassure traders and stabilise the Shanghai and Shenzhen markets. | Any fresh indication that China's woes are set to continue is likely to frustrate Beijing's attempts to reassure traders and stabilise the Shanghai and Shenzhen markets. |
| Authorities have injected money into the markets, allowed the state pension fund to start buying up shares and lowered lending rates. | Authorities have injected money into the markets, allowed the state pension fund to start buying up shares and lowered lending rates. |
| So far though, none of those measures have managed to push the markets back into positive territory. | So far though, none of those measures have managed to push the markets back into positive territory. |
| China has also cracked down on people accused of spreading online "rumours", and who the authorities say have been "destabilising the market". | China has also cracked down on people accused of spreading online "rumours", and who the authorities say have been "destabilising the market". |
| The country's state media announced a number of confessions on Monday, including from a reporter who allegedly admitted to spreading false information that had caused panic and disorder. | The country's state media announced a number of confessions on Monday, including from a reporter who allegedly admitted to spreading false information that had caused panic and disorder. |
| No rate cut in Australia | No rate cut in Australia |
| Shares were also lower elsewhere in Asia. Japan's benchmark Nikkei 225 index saw the region's biggest losses, closing the day down 3.8% at 18,165.69. | Shares were also lower elsewhere in Asia. Japan's benchmark Nikkei 225 index saw the region's biggest losses, closing the day down 3.8% at 18,165.69. |
| Australia's S&P/ASX 200 ended 2.1% lower at 5,097.40. | Australia's S&P/ASX 200 ended 2.1% lower at 5,097.40. |
| Traders in Sydney were cautious as any slump in China is likely to have an effect on Australia, which relies on the country as its main export destination. | Traders in Sydney were cautious as any slump in China is likely to have an effect on Australia, which relies on the country as its main export destination. |
| The decision by the country's central bank not to cut interest rates also contributed to the downbeat mood. | The decision by the country's central bank not to cut interest rates also contributed to the downbeat mood. |
| In South Korea, the benchmark Kospi index also fell, dropping 1.4% to 1,914.23. | In South Korea, the benchmark Kospi index also fell, dropping 1.4% to 1,914.23. |
| Affected by the slowdown in China, Seoul reported on Tuesday that exports fell 14.7% in August from a year earlier, worse than expected and the biggest drop in six years. | Affected by the slowdown in China, Seoul reported on Tuesday that exports fell 14.7% in August from a year earlier, worse than expected and the biggest drop in six years. |