China equity turmoil hits Malaysia too, KLCI below key 1,700-point

Bank of america Merrill lynch: The ripple effect from the market correction has yet to show up

PETALING JAYA: Slumping stock prices in China wreaked fresh havoc across the region, with benchmark indices in Shanghai and Hong Kong the worst hit, as fresh measures by the Chinese authorities to stem recent sharp losses failed to calm nervy investors.

The Shanghai Composite Index fell 5.9% yesterday to 3,507 points. The stock measure has fallen 32% over the past three weeks.