Turmoil in China markets roils Asia

Asian shares tumbled to a 1 1/2-year low on Wednesday and the safe-haven yen rallied as Chinese stocks struggled to pull out of a tailspin, shaking investors already rattled by Greece's debt crisis. MSCI's broadest index of Asia-Pacific shares outside Japan extending its early losses after Chinese shares opened sharply lower. It was last down 2.7 per cent. Japan's Nikkei stock index ended down 3.1 per cent. Shanghai's benchmark composite index was off its session lows but still down 5.1 per cent, while the CSI300 index slipped 6 per cent. Australian shares fell 2 per cent. The S&P/ASX 200 index ended 111.9 points lower at 5,469.5 points at the close of trade. New Zealand's benchmark NZX 50 index fell 0.6 per cent or 35.5 points to finish the session at 5767.7. The dollar shed about 0.5 per cent to 121.99 yen. The euro was down slightly on the day at $1.1008, according to Reuters.