This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-33438416

The article has changed 10 times. There is an RSS feed of changes available.

Version 4 Version 5
Chinese shares fall another 8% despite more measures Chinese shares continue to slide
(35 minutes later)
Mainland Chinese shares continued to slide on Wednesday, falling more than 8% on opening. The dramatic sell-off in China's main stock market has continued despite regulators desperate efforts to try to stem the losses.
The slump came despite more moves by China's regulators to try to stabilise the recently volatile market. The Shanghai Composite index plunged 8% on opening, taking the drop in share values to 30% since their June peak.
The Shanghai Composite had recovered some losses by early afternoon and was down 3.88% at 3,582.50. On Wednesday, another 500 listed firms said they would stop trading their shares in an effort to insulate themselves from the meltdown.
Hundreds more listed companies announced a halt in trading of their stocks - fearing the values of their firms would be wiped out. Around 1,300 firms have halted trading, almost half of China's main shares.
IG chief market strategist Chris Weston dubbed the sell-off "Black Wednesday".
"For the first time, The China Insurance Regulatory Commission (CIRC) has admitted there is genuine 'panic selling' underway.
"Of course, this is tongue in cheek, but when we see around 90% of the market suspended or falling by their daily limit (while further measures have been taken to limit the influence seemingly exerted by futures traders) you know things are becoming less rational," he said.
'Market stability'
Chinese regulators made a string of pledges on Wednesday to try to ease the "panic sentiment" in the market.Chinese regulators made a string of pledges on Wednesday to try to ease the "panic sentiment" in the market.
Other efforts included making more money available to brokerages from its state-backed margin finance firm. The Cabinet agency that oversees China's biggest state-owned companies said it had told them not to sell shares and to buy more "in order to safeguard market stability".
And the CIRC pledged to make more money available to brokerages from its state-backed margin finance firm.
Investors in China rely on margin financing from these brokerages to borrow money to buy stocks.Investors in China rely on margin financing from these brokerages to borrow money to buy stocks.
And insurers were given the go-ahead to invest more in blue chip stocks - with the industry watchdog raising limits from 5% of their total assets up to 10%. Insurers were also given the go-ahead to invest more in blue chip stocks - with the industry watchdog raising limits from 5% of their total assets up to 10%.
But none of the announcements inspired confidence.
Analysis: John Sudworth, BBC Correspondent, ShanghaiAnalysis: John Sudworth, BBC Correspondent, Shanghai
The risk of intervening in an attempt to stop people panicking is that they'll only panic more.The risk of intervening in an attempt to stop people panicking is that they'll only panic more.
The confidence measures are in full swing - new share offerings have been suspended, brokerages have been ordered to buy shares, and the Chinese state has promised to provide sufficient liquidity to keep the markets up.The confidence measures are in full swing - new share offerings have been suspended, brokerages have been ordered to buy shares, and the Chinese state has promised to provide sufficient liquidity to keep the markets up.
But confidence continues to evaporate and hundreds more firms have announced trading halts, taking the total now seeking temporary respite from the storm to more than 40% of the market.But confidence continues to evaporate and hundreds more firms have announced trading halts, taking the total now seeking temporary respite from the storm to more than 40% of the market.
The government appears to be motivated by the fear of a knock-on effect on the real economy as stock market losses hit consumer spending.The government appears to be motivated by the fear of a knock-on effect on the real economy as stock market losses hit consumer spending.
But some analysts wonder why it is staking its authority on an attempt to shore up a market that - despite recent sharp losses - is still well up on where it was a year ago.But some analysts wonder why it is staking its authority on an attempt to shore up a market that - despite recent sharp losses - is still well up on where it was a year ago.
Greece worries The official intervention did little to reassure investors.
Hong Kong's Hang Seng index was down 4.2% at 23,926.09, mirroring falls on China's mainland. The Shanghai Composite was down 6.1% at 3,582.50 by early afternoon. And Hong Kong's Hang Seng index was down 4.2% at 23,926.09, mirroring falls on China's mainland.
Markets in the rest of Asia were also lower - as investors remained cautious about the uncertainty over Greece's position in the eurozone and the lack of a resolution to the debt crisis. Markets in the rest of Asia were also lower, with Japan's Nikkei 225 index down 2.24% to 19,919.89.
Eurozone leaders have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep it from crashing out of the eurozone. In Australia, shares fell as the price of iron ore - one of its biggest exports - fell almost 6% to a three month low.
Japan's Nikkei 225 index was down 2.24% to 19,919.89.
Investors took little comfort from data that showed that Japan recorded its second highest monthly current account surplus in the past five years in May, beating expectations.
The current account - a wide measure of trade - saw a surplus of 1.88tn yen ($15.3bn; £9.9bn) in May. That marks the eleventh consecutive surplus on a boost from a weaker yen.
In Australia, shares were lower as the price of iron ore - one of its biggest exports - fell almost 6% to a three month low.
The benchmark S&P/ASX 200 index was down 1.78% at 5,482.20.The benchmark S&P/ASX 200 index was down 1.78% at 5,482.20.
Shares of mining heavyweights BHP Billiton and Rio Tinto weighed on the index, down 2.3% and 2.9% respectively. And South Korea's Kospi index was lower by 1.04% to 2,019.04 as investors looked forward to the central bank's decision on interest rates on Thursday.
South Korea's Kospi index was lower by 1.04% to 2,019.04 as investors looked forward to the central bank's decision on interest rates on Thursday.
The Bank of Korea is widely expected to keep interest rates on hold after cutting them last month to boost the economy from the outbreak of Middle East Respiratory Syndrome (Mers).