First Shanghai stock set to be delisted in 7 years plunges

[SHANGHAI] CSC Nanjing Tanker Corp, the first stock set to be delisted from Shanghai's exchange in seven years as China seeks to bolster its markets, plunged as it began its final 30 days of trading.

Shares of the oil-shipping company, which has posted four consecutive annual losses, fell 9.8 per cent to 1.47 yuan at the close, compared with a 1.5 per cent decline for the Shanghai Composite Index. The stock, which had been suspended for a year until Monday, will move to an over-the…