Fri, May 07, 2010
Business > Markets

China stocks plunge to eight month low on Europe crisis concerns

2010-05-07 08:32:29 GMT2010-05-07 16:32:29 (Beijing Time)  Xinhua English

BEIJING, May 7 (Xinhua) -- Chinese shares dropped for a second day to an eight-month low Friday, tracking a tumble in U.S. equities on concerns that the Europe's debt crisis would spread and cripple global economic recovery.

The benchmark Shanghai Composite Index fell 1.87 percent to close at 2,688.38 points, lowest since Sept. 1, 2009.

The Shenzhen Component Index fell 2.65 percent to 10,146.42 points.

Total turnover shrank to 192.93 billion yuan (28.26 billion U.S. dollars) from 204.18 billion yuan on the previous trading day.

Losers outnumbered gainers by 673 to 192 in Shanghai and 675 to 242 in Shenzhen.

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