China's “Black Monday”: Stock Market Plummets 8.5% in 1 Day

China's “Black Monday”: Stock Market Plummets 8.5% in 1 Day
Aug 25, 2015 By eChinacities.com

The Chinese stock index dropped 8.49% this Monday plunging 3209 points. This comes after an 11.54% cumulative slide last week. Monday's drop marks the largest decline in a single day in eight years. Intraday trading fell 9%, its biggest decline since 1996.

The Chinese market experienced an upswing last year. Within one year, the market rose to 3234.86 points, up 52.87% from the year before. In the past two months however, the market has taken a downturn. The market reached its highest point in the year before the decline on June 12 at 5178.19 points.

The decline of the market began on June 15. A shares experienced abnormal fluctuations between June 15 and July 3. In just three weeks, the stock index fell 28.64%, to 3686.91 points. In this downturn, the Shenzhen Component Index plunged 32.34%, and the Shanghai and Shenzhen markets lost nearly 21 trillion Yuan.

Source: inews.qq.com

Warning:The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.

Keywords: Chinese A shares Chinese stock market. China's Black Monday

2 Comments

All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate.

Guest2301262

Back to their old trusted comrades; corruption, scams, extortion, fake food, cheap imitations to make up for the losses, stay alert for more violence like beating up air hostesses, road rage, fights in subway and buses.

Aug 26, 2015 13:02 Report Abuse

amb.shahid

Hope it recovers soon!!

Aug 26, 2015 03:02 Report Abuse