The test added to investors' woes whose sentiment was already dampened because of the China slowdown.
London's FTSE 100 recovered from a poor start to 2016 and gained ground with miners buoyed by upbeat data.
The Shanghai Composite only lost slightly while tech-sensitive Hang Seng suffered more than others
People's bank of China revalued its yuan currency on 5 January at a much firmer rate than many had expected.
Markets in Europe, Asia and the US were affected by bad Chinese economic news on year's first day of trading.
US stocks kicked off 2016 on a downbeat after poor Chinese data throttled Asian and European markets.
Trading was halted briefly on the Shanghai Composite as the bluechip fell almost 7%.
The CSI300 of companies listed in Shanghai and Shenzhen fell as much as 7.02% at around 1.28pm local time.
The year 2015 saw only 39 initial public offerings (IPOs) on UK's junior market.
The price of diesel has fallen to around two pence below the price of petrol, which is usually cheaper.
Weak China PMI and devaluation by People's Bank of China affect market sentiments.
The FTSE 100 closed 2015 at 6242.32 after starting the year at 6,566.
Markets in Australia and Hong Kong close early ahead of New Year's Eve.
IBTimes UK lists the most prominent business stories of the year by the headlines.
Australia's S&P/ASX 200 advances for ninth straight session, but Chinese markets lose ground.
Australian shares up 0.9% as trading resumes following four-day holiday.
Amid lack of cues, market men look forward to the New Year.
"In my German words, we have totally screwed up" Michael Horn on messing up
Investors remain concerned about the extent of tightening the Fed could undertake in 2016.
Cartel says 2014 levels of oil prices will not be achieved until 2040.
Shell and BG were both among the biggest FTSE 100 risers on 23 December.
Most Asian stock indices trade higher on positive US economic data.
Oil prices rebound in Asian trading hours but still remain weak.
Edmund Shing explains why you should invest in BAE Systems.
Brent crude continues fall amid rising US Dollar Index.
The move comes following the news that BG Group could be acquired by Royal Dutch Shell.
Edmund Shing believes both technology and property stocks will continue to rise in 2016.
For the overall week, Asian stock markets gained due to the depreciating Chinese yuan and the Fed's first rate rise.
The US Federal Reserve has announced a decision to increase its interest rates by 25 basis points to 0.5%.
A Fed policy meeting will end on 16 December, post which a rise in interest rates could be announced.