A stock investor sits slumped in front of a screen displaying the Shanghai Composite Index at a brokerage house in Qingdao in east China's Shandong province July 6, 2015.(Chinatopix Via AP)
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Asian stocks tumbled Wednesday after Greece was slapped with a deadline to submit fresh bailout reform proposals or face a eurozone exit, while fears over the collapse in Shanghai have spilled into other markets.Shanghai tumbled almost seven percent and Hong Kong lost 4.74 percent soon after opening, despite Chinese leaders announcing a slew of measures to staunch a mainland bloodletting that has wiped trillions off the country's markets.The dollar bought 122.24 yen against 122.55 yen.Wednesday's falls came despite the government announcing new measures to support the market, while Bloomberg News reported that the recent slump has led at least 1,249 companies to halt trading in the mainland, accounting for 43 percent of total listings.Mainland Chinese markets have lost about a third of their value in almost a month as spooked investors cash in after a more than 150 percent rally since last summer.
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