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Chinese shares plunge 6.32% amid concerns over eocnomic slowdown

(Xinhua)
Updated: 2008-10-27 15:45

BEIJING - Chinese shares plunged 6.32 percent on Monday amid concerns over economic slowdown and following slump on the Hong Kong market.

The benchmark Shanghai Composite Index dropped 6.32 percent, or 116.27 points, to close at 1,723.35. The Shenzhen index slid 6.89 percent, or 424.14 points, to close at 5,734.81 points.

The combined turnover was about 47.18 billion yuan (US$6.9 billion), compared with the previous trading day's 44 billion yuan. Losses outnumbered gains by 842-28 in Shanghai and 723-23 in Shenzhen.

Hong Kong stocks close 12.7% lower

Hong Kong stocks nose-dived 1602. 54 points, or 12.7 percent to close at 11015.84 on Monday, the lowest level in over four years, alongside regional markets as investors dumped shares widely on continued worries about the global economy.

The benchmark Hang Seng Index once fell to 10676.29, 1942.09 points lower, or 15.39 percent down during the afternoon session.