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| Chinese shares slide in another day of volatile trade | Chinese shares slide in another day of volatile trade |
| (34 minutes later) | |
| Asian markets continued to fall on Wednesday, with Shanghai opening down more than 4% amid continuing worries about China's growth. | Asian markets continued to fall on Wednesday, with Shanghai opening down more than 4% amid continuing worries about China's growth. |
| On Tuesday, data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off, resulting in US stocks closing down nearly 3%. | On Tuesday, data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off, resulting in US stocks closing down nearly 3%. |
| The Shanghai Composite recovered some ground to trade down 3.6% to 3,054.17. | The Shanghai Composite recovered some ground to trade down 3.6% to 3,054.17. |
| Hong Kong's Hang Seng index was lower by 1.7% to 20,818.22 in early trade. | Hong Kong's Hang Seng index was lower by 1.7% to 20,818.22 in early trade. |
| Chinese markets close on Wednesday evening for a two-day holiday to commemorate the end of World War Two. | Chinese markets close on Wednesday evening for a two-day holiday to commemorate the end of World War Two. |
| Mainland Chinese stocks have lost nearly 40% of their value since June, despite attempts by the government and regulators to prop up the market. | Mainland Chinese stocks have lost nearly 40% of their value since June, despite attempts by the government and regulators to prop up the market. |
| Meanwhile, data showing US factory activity fell to a more than two-year low in August added to the already grim sentiment among investors. | Meanwhile, data showing US factory activity fell to a more than two-year low in August added to the already grim sentiment among investors. |
| Crude oil futures also continued downwards after an 8% fall in US trade, amid concerns about slowing demand from China. | |
| Rest of Asia | Rest of Asia |
| Japan's benchmark Nikkei 225 index was up 0.8% to 18,296.67 after leading the region's losses in the previous session, down nearly 4%. | Japan's benchmark Nikkei 225 index was up 0.8% to 18,296.67 after leading the region's losses in the previous session, down nearly 4%. |
| Australia's S&P/ASX 200 was lower by 1.2% at 5,036.60 points as economic growth figures for the second quarter came in below expectations. | Australia's S&P/ASX 200 was lower by 1.2% at 5,036.60 points as economic growth figures for the second quarter came in below expectations. |
| The economy expanded 0.2% from the previous quarter and was up 2% compared with the same period last year. | The economy expanded 0.2% from the previous quarter and was up 2% compared with the same period last year. |
| Economists were expecting quarterly growth of 0.4% while the annual rate was forecast to be up 2.2%. | Economists were expecting quarterly growth of 0.4% while the annual rate was forecast to be up 2.2%. |
| In South Korea, shares were also lower after government data showed exports fell 4.3% in July, while imports rose 0.7%. | In South Korea, shares were also lower after government data showed exports fell 4.3% in July, while imports rose 0.7%. |
| That led the current account surplus to fall to $9.5bn (£6.2bn) in seasonally adjusted terms from a record high of $10.7bn in June. | That led the current account surplus to fall to $9.5bn (£6.2bn) in seasonally adjusted terms from a record high of $10.7bn in June. |
| The benchmark Kospi index was down 0.3% at 1,908.50. | The benchmark Kospi index was down 0.3% at 1,908.50. |