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Shanghai: Stocks fall to lowest level in month on commodities slump

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[SHANGHAI] China's stocks fell, extending the biggest weekly decline in almost three months, as financial and commodity companies slumped.

The Shanghai Composite Index dropped 1.1 per cent. The benchmark gauge tumbled 3.9 per cent last week after commodity exchanges moved to cool trading in raw materials and the central bank signaled less of an appetite for adding monetary stimulus following evidence of an acceleration in growth.

The Shanghai index dropped to 2,925.74 at 9:37 am local time, heading for the lowest level since March 29.

BLOOMBERG