BEIJING: Chinese stocks have endured a wild session so far on Tuesday, tanking as much as 5% in early trade before recovering into the mid-session close.
The benchmark Shanghai Composite index closed the morning session down 1.06% at 3172.0. Earlier in the day it had been down close to 5%.
Like the benchmark index, the price action elsewhere was equally as wild.
The CSI 300 is lower by 1.24% while the SSE 50, comprising large cap stocks listed in Shanghai, has fallen by a smaller 0.47%.
The fact large cap stocks are yet again outperforming their smaller peers, something that has occurred in recent sessions, points to the likelihood that the government, through its financial intermediaries, is yet again intervening in the market in order to prevent larger losses.
While large cap stocks are down modestly, small cap stocks remain under significant selling pressure.
