Chinese stocks fell on Thursday in another highly volatile session even as regulators intensified efforts to put a floor under the sliding market. Before the market opened, China’s securities regulator relaxed rules on using borrowed money to speculate on stock markets, the latest in a flurry of government measures aimed at stemming two weeks of panic selling that is posing a growing risk to the world’s second-largest economy.
On Wednesday evening, China’s two major stock exchanges in Shanghai and Shenzhen said they will cut transaction fees effective Aug. 1. China stocks had tumbled some 5 percent earlier in the day, taking losses since mid-June to more than 20 percent.
But the moves appeared to have done little to inspire an immediate turnaround in sentiment, with primary indexes slipping again in morning trade. The CSI300 index fell 2.4 percent by 0233 GMT, while the Shanghai Composite Index lost 3.3 percent.