Chinese shares plunge more than 7 percent
SHANGHAI (AFP) - Chinese shares were down more than seven percent in early trade on Monday in the face of a global sell-off, despite Beijing authorising the state pension fund to invest in stocks in its latest attempt to shore up markets.
The benchmark Shanghai Composite Index plummeted 7.05 percent, or 247.45 points, to 3,260.29. The Shenzhen Composite Index, which tracks stocks on China's second exchange, plunged 7.02 percent, or 143.23 points, to 1,896.17.
RELATED