CSI 300, Shenzhen Composite and Shanghai Composite: Asia shares settle after yesterday's sell-off

 
Jessica Morris
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China's blue-chip CSI 300 shed seven per cent yesterday (Source: Getty)

Shares in Asia stabilised after yesterday's market turmoil, which saw China's blue-chip CSI 300 plunge nearly seven per cent.

Today, the CSI 300 edged up 0.28 per cent at 3,478.780 points. It had suffered yesterday as weak data sparked a sell-off, triggering circuit-breakers and bringing a halt to daily trading across Chinese stock markets

The breakers, introduced in the wake of volatility this summer, kick in when the market falls by five per cent.

Meanwhile, the Shenzhen composite ended 1.86 per cent lower at 2,079.773 points, and the Shanghai composite was down 0.26 per cent at 3,287.71 points.

Read more: As China fears spark a global market rout, is the country the greatest risk to the world economy in 2016?

Japan's Nikkei index slumped 0.42 per cent at 18,374 points, failing to recoup some of yesterday's 3.1 per cent dive.

The People's Bank of China injected a generous slug of liquidity into domestic markets to keep borrowing costs down. It also set the value of its yuan currency a little firmer than many had expected, countering concerns China was seeking an aggressive devaluation to aid exports.

"The price action reminds investors that the world is more connected than ever; volatility is likely here to stay, and liquidity may suffer if investor uncertainty worsens," analysts at Citi said in a note.

"Global growth and geopolitical stability remain the main sources of concern."

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