China's desperate efforts to restore confidence in mainland equities last week failed to halt a market crash that has wiped out 30% of market value in just three weeks. The benchmark Shanghai composite index bounced briefly last Tuesday, only to lose 13.8% over the following three days. That marked its worst three-day spell since 1996, extending a savage correction that followed a seven-year high in mid-June. Though analysts agree a correction was long overdue, a continued plunge has raised fears of further weakness in the world's second-biggest economy, which is already wrestling with slowing growth.
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