Stocks slip 0.85% on fresh crisis concerns

The mainland stocks slipped 0.85 percent in active trade yesterday, knocked by a drop in financial, energy and metals shares as renewed concerns about the financial crisis weighed on stock and commodity prices overseas.

The Shanghai Composite Index ended at 2535.828 points after hitting a low of 2499.601 points. It had climbed on Monday to an eight-month closing high. Turnover in Shanghai A shares rose to 154.6 billion yuan from Monday's 140.1 billion yuan.

A jump in bad loans at Bank of America, the largest US bank, rekindled fears about the state of the banking sector globally and pushed prices of industrial commodities such as oil and copper sharply lower.