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China's Stocks Near 2016 Low Have Asia Markets on Knife Edge

  • Shanghai Composite close to breaching key technical level
  • Index making “lower low" would be negative signal, says Maley
Bloomberg business news
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China’s sinking stocks are on the verge of an unwelcome milestone.

The Shanghai Composite Index closed 0.2 percent lower on Tuesday to within 10 points of where it bottomed out in 2016, having briefly breached that level in the afternoon before paring the decline. If the measure drops further, it’ll be trading at the lowest since November 2014, before the nation’s stock boom and subsequent $5 trillion bust.