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Shanghai leads slump in Asia as world equity rout deepens

Local investors fear even Beijing's huge fire-power will not be enough to stop the rout in Chinese shares, particularly after the benchmark Shanghai index fell through the key 3,500 point mark.

Hong Kong

ASIAN stocks sank deeper into crisis on Monday and Shanghai fell the most in eight years as growing concerns that China's slowing economy will drag on world growth rattled equity investors.

Oil prices fell further after slipping below US$40 a barrel for the first time