The Shanghai Composite ended today with a 2.4 per cent gain, but the finishing figure doesn't begin to tell the tale of what happened.
The benchmark stock index for China jumped 7.8 per cent higher at the start of trading following a series of weekend measures to prop up the market. The central bank provided liquidity, banks suspended IPOs and brokers pledged to stabilise the market.
But within minutes the gain was halved. By lunch it was just 2.2 per cent. In the afternoon the market turned red, falling to a 0.9 per cent loss.
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