Economics
China Stocks Fall: Shanghai Composite Index Drops 5.2%
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Chinese stocks tumbled in late trade, with the benchmark index almost erasing Tuesday’s rally, as margin traders unwound positions for a seventh straight day and data showed economic growth remaining sluggish.
The Shanghai Composite Index slid 5.2 percent to 4,053.70 at the close, after surging 5.5 percent Tuesday. Thirty-day volatility on the measure jumped to the highest level since December 2008. Industrial, commodity and financial companies led the rout, while 13 stocks fell for each that rose.