Black Monday as China market crashes 8.5%

Mainland China's stock market tumbled to on Monday, 24 August 2015, as risk aversion selloff intensified on deepening fears over the slowdown in the world's second-largest economy. Many companies, including some large state-owned firms, fell by the maximum daily limit of 10%. The benchmark Shanghai Composite index fell 8.49% to 3,209.91, taking its losses from the multiyear peak of 5,178.2 hit on June 12 to 38%. The Shenzhen Composite Index, which tracks stocks on China's second exchange, de-grew 7.7%, or 156.93 points, to 1882.46 points. Total volume of A shares traded in Shanghai was 36 billion shares, while Shenzhen volume was 19.38 billion shares.

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