Forgotten what it was like for Chinese stocks to be down by five or six per cent in a session? Thank you, Tuesday!
Despite scraping above the psychological 4,000 point barrier in early trade, steady selling pressure through the day and a late slump saw the Shanghai Composite close 6.2 per cent lower at 3,748.2 points, writes Peter Wells. The Shenzhen Composite ended 6.6 per cent lower at 2,174.4.
It was the biggest one-day drop for Shanghai stocks since an 8.5 per cent tumble on July 27, which was the index's second-biggest one-day fall of the past 15 years. For Shenzhen stocks, it's their biggest fall since a 7 per cent fall on the same date.
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