China shares in sharpest daily fall since 2007 - Business Spectator
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. China stocks made their sharpest daily percentage decline since 2007, as worries mount that authorities are pulling back on its measures to prop up the market. The Shanghai Composite Index ended down 8. 5 per cent at 3725. 56, its second-straight day of losses and worst daily percentage fall since February 27, 2007. China's main index is up 6 per cent from its recent low on July 8, but still off 28 per... The smaller Shenzhen Composite fell 7 per cent to 2160. 09 and the small-cap ChiNext closed 7. 4 per cent lower at 2683. 45. . Analysts say the selling came as investors fear the government is curbing its buying of blue-chip stocks--and could even... The government wants to use state funds to stabilise the market, not to prop it back to 5,000 point overnight. Before Monday, China's main stock market had rallied for three-straight weeks. Source: www.businessspectator.com.au
