Equities post worst loss since late June

Updated: 2013-07-09 06:13

(China Daily)

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China's stock market had another down day on Monday, posting the steepest decline since June 24, led by resource and energy companies.

The Shanghai Composite Index sank 2.44 percent to 1,958.27 points, while the Shenzhen Component Index fell 2.79 percent to 7,637.63.

The Hang Seng China Enterprises Index dropped 1.59 percent.

Resource and energy companies were hit by a decrease in demand for their products amid a lingering domestic slump and expectations of lower global commodity prices.

Mainland markets were undercut by the government's reluctance to launch a wide-ranging stimulus program amid the economic slowdown, said analysts.

The State Council pledged last Friday to maintain the general stability of the financial markets.

Huang Tiantian

(China Daily USA 07/09/2013 page13)