Chinese stocks are on track to chalk up their worst weekly performances in at least five years.
The Shanghai Composite is down 2.3 per cent, taking the weekly decline to 9.5 per cent — the biggest weekly drop since a 12.8 per cent plunge in the week ended October 10, 2008. It would also rank as the fifth-biggest weekly fall for the Chinese benchmark since 2000.
The Shenzhen Composite was down 3.3 per cent, bringing its weekly decline to 10.3 per cent. That would be the biggest weekly drop since the week ended Feb 27, 2009.
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