Key index nosedives another 4%

SHANGHAI: The mainland stock market plunged a further 4.13 percent yesterday, losing over 1 trillion yuan in total capitalization after the central bank said monetary tightening policies will stay.

The benchmark Shanghai Composite Index fell 143.55 points to close at 3329.16, the lowest since April 6, 2007. Losers outnumbered gainers by 838 to 21. The Shenzhen Component Index slid 6.33 percent, or 841.51 points, to close at 12460.62.

Turnover on the two bourses amounted to 108.6 billion yuan, up 12 percent from last Friday. Total capitalization shrank 5 percent to 21.46 trillion yuan.