Shanghai: Stocks close down 1.29%

[SHANGHAI] China's benchmark Shanghai stock index closed down 1.29 per cent on Tuesday, narrowing earlier losses but still ending the day lower despite recent government efforts to boost the market, dealers said.

The Shanghai Composite Index fell 48.79 points to 3,727.12 on turnover of 776.1 billion yuan (S$172 billion). It was down as much as 5.05 per cent during the day.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, slumped 5.34 per cent, or 109.02 points, to 1,932.83 on turnover of 301.4 billion yuan.

AFP