China markets slump to 5-year lows as regulator promises to protect small investors

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Chinese shares have sunk to 5-year lows even after market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and “malicious short selling.” Benchmarks in Shanghai and Shenzhen closed lower after swinging between big losses and minor gains on Monday, despite signs authorities may have intervened with heavy buying of big cap shares like state-owned banks. Markets in China have been hit by heavy selling of property shares as developers endure a slump in the industry. Worries over more trade tensions with the U.S. also flared after former President Donald Trump said he would impose 60% tariffs on Chinese products if he is re-elected.