Weak data prompts drop in equity prices

Shanghai major index falls below the psychologically important 2,000 level

China's benchmark Shanghai Composite Index experienced a sharp drop on Monday after weak economic data triggered concerns about a worsening economic slowdown.

The benchmark index dropped by 2.86 percent to 1,999.07 points, falling below the psychologically significant 2,000 level and marking the biggest slump in at least two years. Turnover expanded to 95 billion yuan ($15.6 billion) from 89.3 billion yuan on the previous trading day.