Stocks sink on profit slowdown, audit plan
By Huang Tiantian and Yang Ziman in Beijing and Gao Changxin in Hong Kong | China Daily | Updated: 2013-07-30 08:11
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Many individual investors were upset after China's benchmark stock index dropped below the psychologically important 2,000-point mark again on Monday. The Shanghai Composite Index closed at 1,976.31 points, down 1.72 percent from the previous session. Ding Ting / Xinhua |
Nervous investors drove down the Chinese stock market on Monday, reacting to discouraging news about industrial companies' first-half profit growth and a State Council call for a nationwide audit of local government debt.
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