DHAKA: China’s markets were volatile for much of Monday as mainland stock exchanges reopened following a four-day weekend.

The Shanghai Composite traded erratically, but closed down by 2.5% to 3,080.42 points.

The market volatility in China came as the country’s National Bureau of Statistics revised its annual economic growth rate for 2014 to 7.3%, down from 7.4%.

Hong Kong’s benchmark Hang Seng index closed down 1.2% to 20,583.52.

Mainland shares have fallen 40% since mid-June when the sell-off began, while Chinese regulators continue to take more steps to stabilize erratic trading.

China’s central bank governor, Zhou Xiochuan, told financial leaders at the G20 summit over the weekend that the markets had almost completed their correction after a steep rise in the first half of the year.

‘The stock market adjustment is already roughly in place and financial markets can be expected to be more stable,’ Zhou said in a statement from Turkey, reports the BBC.

BDST: 1927 HRS, SEPT 07, 2015
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