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It's Turning Into a Really Bad Week for China’s Markets

  • Shanghai Composite poised for worst week since April
  • Yuan weakens to lowest since June 2008 as dollar rallies
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It’s turning out to be a really bad week for Chinese financial markets.

The benchmark stock index has tumbled 3.6 percent, poised for its worst week since April. The yuan depreciated to its lowest level against the dollar since June 2008, while government bonds plunged, with the 10-year yield surging by a record 22 basis points on Thursday.