China’s stock market fell again on Friday, with The Shanghai Composite Index slipping 1.1% to close at 3,663.73, according to a report in Bloomberg News.
The loss brings to an end the worst month for stocks in China since August of 2009, when China was still reeling from a global financial panic and recession that caused massive losses in financial markets around the world.
For the month of July, the Shanghai Composite Index fell a total of 15%, despite unprecedented state intervention aimed at calming markets. According to Bloomberg, the losses on Friday started “after Reuters reported that Chinese regulators had asked financial institutions in Singapore and Hong Kong for stock-trading records as part of efforts to track down investors betting against shares in China.”
Chinese regulators also halted trading in 505 companies on the Shanghai and Shenzhen exchanges on Friday, equivalent to 18% of all listings.
More Must-Reads From TIME
- The 100 Most Influential People of 2024
- Coco Gauff Is Playing for Herself Now
- Scenes From Pro-Palestinian Encampments Across U.S. Universities
- 6 Compliments That Land Every Time
- If You're Dating Right Now , You're Brave: Column
- The AI That Could Heal a Divided Internet
- Fallout Is a Brilliant Model for the Future of Video Game Adaptations
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com