證監會宣佈暫停實施熔斷機制

China will suspend its new stock market circuit-breaker mechanism - designed to stop free-falling prices - from Friday, the Shanghai and Shenzhen stock exchanges have said.

中國上深證交所表示，自本週五起，暫停股市新實施的旨在防止股價自由下跌的指數熔斷機制。

The mechanism, which had been in place since the start of this year, suspends trading on China's main stock markets if stocks fall 7%.

熔斷機制於2016年1月1日起正式實施，它指的是股值熔斷閾值跌破7%時暫停股市交易的措施。

That circuit-breaker was activated twice this week alone. On Thursday, it was triggered within half an hour of trading. That gave China's stock markets their shortest trading day in 25 years.

新年第一週中國股市就兩次觸發熔斷收市。週四，股市在半小時內觸發熔斷機制收盤，創25年來中國股市最短交易日。

"After weighing advantages and disadvantages, currently the negative effect is bigger than the positive one. Therefore, in order to maintain market stability, CSRC has decided to suspend the circuit-breaker mechanism," a statement from the China Securities Regulatory Commission (CSRC) said.

中國證監會發表聲明表示：“在權衡利弊後，目前處於弊大於利的形勢，因此，爲維護市場穩定，中國證監會（CSRC）決定暫停熔斷機制”。

The renewed share suspension in China caused global shares to fall sharply on Thursday, with Wall Street opening more than 1% lower and European markets trading 2% down.

週四，中國股價動盪導致全球股價也大幅下跌，華爾街開盤股價下降逾1%，歐洲股市降低2%。

Analysts said Beijing's introduction of the circuit-breaker mechanism had proved counter-productive. Investors had panicked they would not be able to sell shares they did not want, rather than being reassured over market stability.

分析人士表示，中國引進熔斷機制已經證明是適得其反。投資者開始慌張，表示與股市穩定相比，他們更不願意看到股票無法拋出。