Stocks fall sharply on fears of slowdown

SHANGHAI: The mainland stock market slid 3.6 percent yesterday, losing more than 1 trillion yuan ($128 billion) in total capitalization, amid institutional investors' concerns over a possible slowdown in China's economic growth this year.

The Shanghai Composite Index tumbled 142.62 points to close at 3820.05, the lowest since July 6 last year. Losers outnumbered gainers by 836 to 24. The Shenzhen Component Index plunged 4.41 percent to close at 13207.78.

The turnover on two bourses amounted to 106.89 billion yuan ($13.7 billion), up 15 percent from last Friday.