Earnings shadow on stocks

SHANGHAI: The mainland stock market slid 4.13 percent yesterday, led by financial companies and real estate developers, amid investor concerns about sliding corporate earnings.

The benchmark Shanghai Composite Index fell 154.35 points to close at 3579.15, with 775 out of 914 stocks closing lower. The Shenzhen Component Index shed 5.28 percent, or 723.37 points, to close at 12979.19.

The turnover on two bourses amounted to 192 billion yuan, down 9 percent from Tuesday. The total capitalization dropped 8 percent to 23.2 trillion yuan.