More than US$5 trillion has been wiped off the value of global stocks since China unexpectedly devalued its yuan by almost 2 per cent on August 11. By June, the Shanghai stock market had shot up some 135 per cent, and the Shenzhen exchange had gone even higher at 150 per cent in less than a year, boasting a combined market capitalisation of US$9.5 trillion, according to Graphic News. Since then, their value has fallen by 40 per cent.
