China stocks tumble again after premier Li Keqiang fails to mention crisis
by Staff and agencies from on (#DHB4)
The biggest markets fall more than 3% after investors were unnerved by leader's failure to address the plunge in a statement on the economy
The sell-off on Chinese stocks continued on Tuesday despite government efforts to bolster the markets amid investor unease that premier Li Keqiang failed to mention the deepening crisis in a statement on the economy.
Before the market opened, Li said in comments on a government website that China had the confidence and ability to deal with challenges faced by its economy, but had nothing to say on the three-week plunge that has knocked around 30% off Chinese shares since mid-June.
Related: Beijing's desperate attempts to control the stock market will end badly
Continue reading...