Economic security

China shares fail to lift on the central bank's rate cut

Chinese shares continued to lose ground despite the central bank's latest effort to reassure traders

The mainland's benchmark Shanghai Composite was down 1% in early trading to 2,934.27 points.

The index had already fallen about 16% this week, sending shockwaves through global markets.

The dramatic losses and volatility in China has shattered investor confidence and led to sharp falls in Asia and the US over the past days.