Chinese stocks continue to tumble

Risingbd Desk: Chinese stocks continued to fall, though elsewhere in Asia stocks returned to gains after global markets had been rocked by dramatic losses the previous day.

The mainland benchmark Shanghai Composite was down 3.2%, adding to Monday`s dramatic 8.5% drop.

Overnight, stocks in Europe and the US had also seen sharp falls.

The worldwide sell-off was driven by fears that China`s slowing growth might pull down economies around the globe.

Investors are worried that firms and countries which rely on high demand from China - the world`s second largest economy and the second largest importer of both goods and commercial services - will be affected.

China`s central bank devalued the country`s currency, the yuan, two weeks ago, raising fresh concerns that a slowdown in the country`s economy was worse than originally feared.

Agencies

risingbd/Aug 25, 2015/Aminul