China stocks breach 'Key' technical support at 2,481

Updated: 2010-06-29 15:23
Large Medium Small

The Shanghai Composite Index fell below "key" technical support at 2,481, a "bearish signal" for China's stocks, according to Jamie Coutts, technical analyst at BGC Partners in Singapore.

The measure slid 3.1 percent to 2,457 at 1:28 pm. It breached a "double-bottom" at 2,481, Coutts said in e-mailed comments, triggering concern that global stocks may follow.