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Shanghai index posts biggest single-day loss in 5 years
Online Edition
THE benchmark Shanghai Composite Index slumped the most in more than five years amid extreme volatile trading that sent the mainland stock bourses’ turnover to a record.
The barometer dropped 5.43 percent to close at 2,856.27 after gaining as much as 2.4 percent in the morning session. The decline was the steepest since August 31, 2009, when the index plummeted 6.74 percent.
The Shenzhen Component Index, which tracks the Shenzhen stock exchange, lost 4.15 percent to 10,116.49.
Total transactions in Shanghai and Shenzhen hit a combined 1.24 trillion yuan (US$200 billion), the highest since the exchanges started to trade in early 1990s.
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