Asian market turmoil continues as China slides another 5%

Asian markets at four-year low

The Shanghai Composite index fell over 5% in Monday's trading, reversing a small rebound the previous week, as investors' worries over China see no signs of waning.

China's mainland index fell 5.3% to 3,017 points in late afternoon trading, while Hong Kong's Hang Seng was down 2.4%, trading at 19,960. The MSCI International All Country Asia index was down 2% at its lowest level since 2011. Meanwhile, Australia's S&P/ASX 200 index fell 1.2%, while the Philippines Stock Exchange index tumbled 4.4%. The falls across Asian markets mark their lowest point in over four years, according to Reuters. The turmoil in markets has also weighed on currencies, with the South African rand experiences wild swings which took it to record lows at one point durin...