Chinese shares continue to lose

Chinese shares continued to lose ground despite the central bank's latest effort to reassure traders.

The mainland's benchmark Shanghai Composite was down 1.1% to 2,930.23 points after a volatile open earlier.

The index had already fallen about 16% this week, sending shockwaves through global markets.

The dramatic losses and volatility in China has shattered investor confidence and led to sharp falls in Asia and the US over the past days.

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