Slumping China stocks pull down Asian markets

Security guards stand in front of a panel displaying the Hang Seng Index at Hong Kong Exchanges in Hong Kong, China July 8, 2015. Losses on the mainland weighed heavily on Hong Kong shares, with the Hang Seng Index down 3.3 percent and shares of Chinese companies listed in the city falling 4.2 percent. REUTERS

TOKYO:  Asian shares tumbled on Wednesday and the safe-haven yen rallied as Chinese stocks remained in a tailspin, shaking investors already rattled by Greece's debt crisis.

The drop in China extended a savage correction that has clipped 30 percent off Chinese shares since mid-June, threatening a new blow to the country's already slowing economy despite a slew of market support steps from Beijing.