Trading over early for those in China's stock market as market has hit a newly introduced circuit breaker, halting trading for the day.
New year so far hasn't been good for Chinese investors Market was red early and continued to sell off without any signs of reversal even intraday. Chinese authorities have introduced circuit breaker in the market, effective from January 1st to curb excessive volatility that has been a major concern in 2015. First circuit breaker if of 15 minutes trading halts in futures, options and stocks for 15 minutes after market decline by 5% and a drop of 7% would mean trading gets halted for the day.
Just after lunch break, first circuit breaker got hit, leading to 15 minutes of cooling time but market continued to sell off after return and got hit final circuit.
China's heavily traded, CSI 300, which consists 300 of the top A shares lost 240 points today, trading at 3296.
Chinese circuit hit is likely to sour the mood of investors for the rest of the day and ahead.
