Managers warn of 'massive repercussions' from unwinding of China bubble

The Shanghai Composite index plummeted over 33% in the four weeks to 7 July, falling into bear market territory, following a clampdown last month on margin finance — the use of borrowed money to buy shares.  It dropped 5.9%, or 220 points, in one day alone last week - the third biggest daily points fall in the index's history.  The slump halted what had been described as a "roaring bull market" in the region: the index was previously more than 100% higher on a 12-month view. The Chinese government has made a number of moves to try to stem outflows, but has struggled in the face of ...