China Stocks Sink Again as Growth Concerns Spur Investor Exodus
- Equity fund values tumbled in August amid redemptions
- Data this month show state stimulus yet to revive economy
China Stocks Sink Again as Moves Lack Economic Impact
This article is for subscribers only.
China’s stocks slumped for a second day in thin turnover amid concern government measures to support the world’s second-largest equity market and economy are failing.
The Shanghai Composite Index dropped 3.5 percent to 3,005.17 at the close, led by commodity producers and technology companies. About 14 stocks declined for each one that rose on the gauge, while volumes were 36 percent below the 30-day average. The index completed its biggest two-day loss in three weeks with a decline of 6.1 percent.