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Shanghai Composite Index drops to lowest in 4 years

06-25-2013 15:36 BJT

China's Shanghai Composite Index has plummeted below 1,900, the lowest level in four years. Though by Tuesday's close, it ended above 1,950 points.

The benchmark Shanghai Composite dropped below 1,900 in morning trade, plunging another 3.8 percent to reach 1,888. At midday, the CSI300 index of the leading Shanghai and Shenzhen listings was down 4.5 percent. That’s its lowest mark since February 2009.

Tuesday's losses came despite money market rates being eased for a third-straight session. The benchmark seven-day government repurchasing rate opened at 5.73 percent on Tuesday. That was down from 7.53 percent at Monday's close, and an all-time high of 11.62 percent on last Thursday.

China's central bank has stopped short of loosening monetary policy any further. It says there’s still plenty of liquidity in the market.

 

Editor:James |Source: CCTV.com

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