Chinese stocks fell on Monday, with the benchmark Shanghai Composite index posting its biggest daily loss in more than two months, as investors scaled back expectations for sharp U.S. rate cuts and a slew of new listings this week weighed on tech shares.
At the close, the Shanghai Composite index was down 2.58% at 2,933.36, in its biggest daily loss since May 6. The blue-chip CSI300 index was down 2.32%, its biggest daily loss since May 17. The financial sector sub-index fell 2.21%, the consumer staples sector lost 1.19%, the real estate index retreated 1.89% and the healthcare sub-index gave up 1.94%.
The smaller Shenzhen index ended down 2.9% and the start-up board ChiNext Composite index was weaker by 2.654%.
Source : Reuters