Equities fall as economic woes trigger sell-offs

Disappointing economic data aggravated investor concerns about downside risks to the economy and triggered a sharp decline in the capital market barometer on Friday.

The benchmark Shanghai Composite Index tumbled by 156.55 points, or 4.27 percent, to close at 3,507.74, almost exactly the same level when the market touched the bottom on July 8 at 3,507.19 which prompted massive government intervention to rescue the market.

The selling pressure was even heavier on the smaller Shenzhen bourse and the startup board, both of which suffered more than 5 percent loss on Friday. Textiles, automobiles and agriculture stocks led the decline.