Facebook Twitter 新浪微博 google plus Instagram YouTube Tuesday 25 August 2015

China stocks tumble further, drag index to seven-month low

(China Daily)    10:56, August 25, 2015
China stocks tumble further, drag index to seven-month low

Stocks tumble further on Tuesday, dragging the benchmark Shanghai index to its lowest level since last December, amid global stock market panic.

The benchmark Shanghai Composite Index opened at 3,004.13 points, down 6.41 percent. The Shenzhen Component Index opened 6.91 percent lower at 10,212.47.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, opened 7.27 percent lower at 1,996.04 points.

The gauge plunged after sinking 12 percent last week, despite the State Council granting pension funds access to equities for the first time over the weekend.

These funds will be able to invest up to 30 percent of their net assets or 600 billion yuan in total ($97 billion) in the country's stocks, equity funds and balanced funds, according to rules published by the Cabinet.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Editor:Ma Xiaochun,Bianji)

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