China stocks tumble as G20 meeting disappoints investors

Shanghai

CHINESE stocks sank, with the benchmark index approaching the lowest level since November 2014, as some investors were disappointed by a lack of specific measures to boost growth during the Group of 20 meeting in Shanghai.

The Shanghai Composite Index dropped as much as 4.4 per cent as almost 20 stocks fell for each that rose. The measure has declined 24 per cent this year, the worst performer among 93 global equity indexes, on concern capital outflows will accelerate as the economic slowdown deepens. The yuan headed for its longest losing streak this year.