Market continues downward spiral

SHANGHAI: Jittery investors keen to unload stocks amid growing uncertainties in the Chinese and global economies yesterday pushed down the mainland stock market a further 3.96 percent - the lowest level in eight months.

Following Monday's decline, the benchmark Shanghai Composite Index slid 151.15 points to close at 3668.9. Gainers outnumbered losers 845 to 17. The Shenzhen Component Index plummeted 5.44 percent, or 718.76 points, to close at 12489.02.

The turnover on the two bourses amounted to 115.2 billion yuan ($16.27 billion), up 7.8 percent from Monday. Total capitalization shrank another 4.5 percent to 23.47 trillion yuan ($3.3 trillion) yesterday.