Circuit breaker man says watchdog officials on wrong track

The man responsible for stock circuit breakers said Chinese officials must revise their safety net to avoid creating panic, joining critics who argue the trading halts are triggered too easily for such a volatile market.

"They're just on the wrong track," said Nicholas Brady, 85, the former United States Treasury secretary who ran a committee that recommended the curbs on equity trading after the 1987 crash. "They need a set of circuit breakers that appropriately reflects their market."

Brady spoke after Chinese regulators suspended their newly introduced program that ends stock trading for the entire day after a 7 percent plunge. The halt was set off twice in its first week of operation, bolstering speculation China set its threshold too low.