The Chinese Stock markets (Shanghai and Shenzhen) were closed last week for the National Day Golden Week holiday as the Shanghai Daily article linked here notes:

THE Shanghai stock market, which was closed last week for the National Day Golden Week holiday, is not likely to escape the turmoil that hit global exchanges when it resumes trading today.

The rejection by the United States House of Representatives of a US$700-billion bailout plan on September 29 sent stocks tumbling around the world. The House later passed a revised version of the plan to bolster the ailing US financial system but stocks there continued to free fall.

Last week, the Dow Jones Industrial Average ended 818 points lower, the biggest weekly point loss in seven years and the third-biggest weekly loss overall.
...

China has implemented measures to boost the sagging market, including scrapping a stamp duty on stock purchases and ordering state firms to buy additional shares.

The Shanghai Composite Index has added nearly 21 percent to 2,293.78 points up to September 26, the last trading day before the holiday.

The Chinese Government needed to stop the free fall here as the market last year at this time was over 6,100 and had fallen to below 2,000!!!

As my Finance and Economic students all know, a 21% increase is NOT AT ALL equivalent to a 21% fall!!!  Do the math if you don't believe us.  However, we need to count all the positives we can these days, eh?!!?  grin