China Market tumbles 2.47%

Mainland China stock market tumbled on Monday, 12 December 2016, as blue-chips were knocked by fresh regulatory curbs to rein in insurers' aggressive stock investments, while rising bond yields prompted profit-taking in equities. The Shanghai Composite Index slipped 2.47% to 3,152.97, the largest one day drop in six months, while the CSI 300 which tracks large companies listed in Shanghai and Shenzhen slipped 2.42%. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 4.86% to 1,969.32. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, fell 5.5% to close at 1,984.40 points.

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