China has led global economies into another bad week, with the Shanghai Composite closing down over five percent on Monday.

This is the beginning of a second consecutive week of instability in China, which last week saw trading suspended twice as a circuit breaker mechanism designed to curb volatility came into effect. That mechanism was suspended on Friday, boosting investor sentiment.

Hong Kong’s Hang Seng index closed down 2.8 percent, with the Nikkei also down 0.39 percent.

Europe started the day on the back foot, with all the main indexes down. However, the DAX and the FTSE have both regained ground, with the latter now trading up 0.17 percent.

11/01/2016