China stocks hammered, down by more than 4%

FXStreet (Bali) - China stocks are being battered at the open, with the Shanghai Composite now down more than 4%, the Shenzen shows a similar picture, while China's A50 FTSE index is also selling off, with the futures -1.6% from +0.25% at 1 GMT ahead of the Yuan devaluation. The rest of Asian markets have also turned from a modest soft tone into a sea of dark red at present, with the Nikkei 225 down by 1.5% while HK is nearing -2%.