China: Stocks tumble after volatile day

[SHANGHAI] China stocks closed down on Monday after a volatile day as investors sold shares in the aftermath of a four-day market holiday.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 3.4 per cent, to 3,250.49, while the Shanghai Composite Index lost 2.5 per cent, to 3,080.42 points.

Among the most active stocks in Shanghai were ICBC, down 8.9 percent to 4.51 yuan; Agricultural Bank Of China, down 7.4 per cent to 3.12 yuan and China Shipbuilding, down 5.6 per cent to 10.74 yuan.

In Shenzhen, BOE Technology, down 0.3 per cent to 3.13 yuan; Suning Appliance, up 5.0 per cent to 14.00 yuan and Hebei Steel, down 3.6 per cent to 4.02 yuan were among the most actively traded.

Total volume of A shares traded in Shanghai was 29.6 billion shares, while Shenzhen volume was 22.8 billion shares.

REUTERS