Shanghai stocks slump 8.48% on economy worries

[Bosonic]

Source: AFP

Shanghai stocks slumped 8.48 percent on Monday, defying government efforts to prop up the market, on worries the world's second largest economy is heading for a sharp slowdown, dealers said.

The Shanghai Composite Index closed down 345.35 points to 3,725.56 on turnover of 721.3 billion yuan ($117.9 billion).

The Shenzhen Composite Index, which tracks stocks on China's second exchange, slid 7.00 percent, or 162.62 points, to 2,160.09 on turnover of 667.7 billion yuan.

The falls came as economic data caused sentiment to turn, despite government efforts to prop up the stock market following a rout that began last month, dealers said.

Read more: https://uk.finance.yahoo.com/news/shanghai-stocks-slump-8-48-074210412.html

[LeftOfWest]

1. Important.

Ignore at our own peril again world.

Thank you for posting this.

[RobertEarl]

2. profit taking

take the money and run. come to the nyse and bloat it some more.

[tomm2thumbs]

3. Bubble, Bubble, Toil and Trouble.... "China Slides Again, Europe Follows"

Reuters:
http://www.reuters.com/article/2015/07/27/us-markets-global-idUSKCN0Q100M20150727