745 stocks suspended for trading in China, locking up $1.4 trillion

The total number of suspended stocks on China’s exchanges has reached 745, accounting for 26% of listed firms and locking up US$1.4 trillion in shares–a full 21% of the mainland’s market capitalization, Bloomberg reported. Most of the halts have come from companies in Shenzhen, whose exchange is dominated by smaller businesses that have received little attention from government bailout measures taken thus far to try and save the country’s stock market. The ongoing rout has obliterated at least US$3.2 trillion in value as investors flee the market, undermining government attempts to prop it up. The Shanghai Composite Index closed down 1.3% Monday, while Shenzhen’s fell 5.3%.