China Markets Live - Hong Kong’s Hang Seng sinks to close below 19,000 for first time since 2012

Welcome to the SCMP’s live China markets. The intense volatility in Chinese markets into 2016 due to the implementation of the circuit breaker has roiled world financial markets. Investors are increasingly focused on the broader question of how this episode might affect the wider economy of the country. We’ll bring you the key levels, trading statements, price action and other developments as they happen.

Here is a summary of market movements so far today:

• Hong Kong’s Hang Seng slides 3.8 per cent to close below 19,000 for the first time since July, 2012
• Shanghai Composite and Shenzhen Composite both close down 1 per cent
• Hong Kong dollar falls to the weakest level since August 2007, fuelling speculations that the city may abandon the peg to the US dollar

4:48 pm By Laura He

Asian stock markets suffered a region-wide sell-off. Japan stocks entered bear market, as Tokyo’s Nikkei Average tumbled 3.7 per cent to finish at 16,416.19, marking a more than 20 per cent drop from its recent high in June. Seoul’s Kospi Composite Index declined 2.3 per cent to finish at 1,845.45, and Sydney’s S&P/ASX 200 settled 1.3 per cent lower at 4,841.5. India’s Sensex slid 2.4 per cent to 23,894.30 in the afternoon session.

Meantime, oil futures plunged in Asia trade. February WTI crude fell 3.3 per cent to US$27.51, the lowest intraday level in more than 12 years. March Brent crude dropped 3.1 per cent to US$27.86 a barrel.

4:21 pm By Xie Yu

The Hang Seng Index dropped 3.82 per cent, or 749.51 points to close at 18,886.30. The H-share Index, tracking mainland-based companies, finished 4.33 per cent or 362.36 points lower at 8,015.44.