Shanghai index close to nearly one-year low

A wide sell-off today dragged Shanghai's key stock index to nearly a one-year low, headed by industrial shares such as steel makers and oil-related stocks.

The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, plunged 5.42 percent, or 195.36 points, to 3,411.49 at 3pm.

This is the lowest since April 9 last year when it stood at 3,398.95.

Losers in the Shanghai market outnumbered gainers 795 to 45, while 12 were unchanged.

The Shenzhen Composite Index, which covers the mainland's smaller stock market, was down 4.21 percent, or 48.52 points, to 1,105.12.

The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

(Agencies)