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China’s Shanghai Composite plunged further this morning, opening more than six per cent down – but other major indices in Asia regained ground in morning trading as investors made the most of yesterday’s bloodbath.

Robert Kleinhenz, chief economist with the Los Angeles County Economic Development Corp., agreed.

An index is said to be in correction when it closes 10 per cent or more below its 52-week high. All major bourses were off a similar amount.

The US stock market has rebounded slightly following an early trading plunge in the wake of a big drop in Chinese stocks. Minutes after the opening bell Monday, the major indices tumbled wildly, making Friday’s 530-point sell-off in the Dow look like a minor blip, but...

U.S. inflation in the first half of the year was probably “markedly lower” than reported, but policymakers are unlikely to set interest rates incorrectly as a result, according to an analysis published Monday by the San Francisco Federal Reserve Bank. The Fed stepped...

Rupee decreased to below the Rs 66 level against the dollar for the first time in nearly two years in opening trade today.

European markets continued to fall during the trading session as fears of currency wars ignited a fresh bout of selling across global markets.

In addition, the PBOC is reducing the reserve requirements (RRR) for most big banks from 18.5 percent to 18.0 percent.

It also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5%.

China has sought to calm its panic-stricken stock markets by cutting interest rates and loosening constraints on bank lending after a second day of plunging share prices.

The British lobbying body is forecasting 2.6 percent growth for 2015 and 2.8 percent for 2016, up from its June’s projections of 2.4 percent and 2.5 percent respectively.

South Africa’s currency tumbled the most since October 2008 in thin Asia trading that exaggerated moves on Monday on concern lower prices for commodities, which account for more than half of the nation’s exports, will deepen as China’s economy slows.

The tumult began when the Dow opened Monday with a 1,000-point nosedive.

Shanghai: Shanghai stocks tumbled 6.41 per cent in early trading on Tuesday, extending the worst plunge for eight years after worries China’s faltering economy could hurt global growth sent world markets nosediving.

The daily said that market capitalisation fell by Rs. “This is the biggest one-day slump in China since 2007”.