China stocks tumble, suffer biggest one-day loss in 8 years

[unhappycamper]

http://atimes.com/2015/07/china-stocks-tumble-suffer-biggest-one-day-loss-in-8-years/

China stocks tumble, suffer biggest one-day loss in 8 years
AT Editor on July 27, 2015
(From Reuters)

Chinese shares tumbled more than 8 percent on Monday amid renewed fears about the outlook for the world’s No. 2 economy, reviving the specter of a full-blown market crash that prompted unprecedented government intervention earlier this month.

Major indexes suffered their largest one-day drop since 2007, shattering a period of relative calm in China’s volatile stock markets since Beijing unleashed a barrage of support measures to arrest a slump that began in mid-June.

The CSI300 index .CSI300 of the largest listed companies in Shanghai and Shenzhen plunged 8.6 percent, to 3,818.73, while the Shanghai Composite Index .SSEC lost 8.5 percent, to 3,725.56 points.

While the falls followed lackluster data on profit at Chinese industrial firms on Monday and a disappointing private factory sector survey on Friday, there was little to explain the scale of the sell-off.

[leveymg]

1. Uncontainable. No safe harbours. Usually comes in September.

Sell.