China Stocks Fall, Driving Benchmark Index Close to Bear Market

Aug. 19 (Bloomberg) -- China’s Shanghai Composite Index fell to a two-month low, led by PetroChina Co., as the nation’s benchmark gauge approached levels that signal a bear market.

The Shanghai Composite, which tracks the bigger of China’s stock exchanges, dropped 92.53, or 3.2 percent, to 2,818.35 as of 2:01 p.m. local time. The gauge declined as much as 4.1 percent to 2,792.20 earlier, a 19.6 percent retreat from this year’s high on Aug. 4.

--Zhang Shidong. Editor: Linus Chua

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net