China Market tumbles on disappointing trade data

Mainland China stock market finished the session steep lower on Monday, 09 May 2016, as risk aversion selloff triggered after weak Chinese trade figures reinforced concerns over the state of the world's number 2 economy. Risk sentiments also dampened by the Communist Party's mouthpiece report that the nation's economy is headed for an L-shaped recovery, stoking worries among investors that growth in the world's second-largest economy will moderate further. All 10 SSE sectors declined, with shares of materials and resources and financial issues being major losers. The benchmark Shanghai Composite Index tumbled 81.14 points, or 2.79%, to 2832.11. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, sank 64.73 points, or 2.07%, to 3065.62.

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