China’s Stocks Extend Rout, Set for Worst Week in Seven Years

China’s benchmark stock index extended losses amid concern that the country’s longest-ever bull market has propelled valuations to unsustainable levels.

The Shanghai Composite Index dropped 6.1 percent to 4,495.25 at 2:43 p.m. local time, poised to enter a correction for the first time since January 2014. The gauge has tumbled 13 percent this week, heading for its worst loss since June 2008.

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