China’s stocks fell for the steepest two-day loss in three weeks amid concern the economic slowdown is deepening as traders weighed state support for equities.
The Shanghai Composite Index dropped 1.8 percent to 3,059.01 at 9:33 a.m. local time, led by material and technology shares. The benchmark gauge plunged 2.7 percent on Monday after weekend data showed industrial output missed economists’ forecasts and investment in the first eight months increased at the slowest pace since 2000. Yuan positions at the central bank and financial institutions fell by the most on record in August, a sign that policy makers stepped up intervention to support the currency.
Source : Bloomberg