Equities slump due to growth concerns

Stock prices fell on Tuesday with trading volumes nosediving as slumping global commodity prices and growth concerns prompted heavy sell-offs.

The benchmark Shanghai Composite Index retreated by 2.02 percent to close at 3,038.14 points. The decline was mainly led by military, mining and resources companies.

The combined trading turnover at the Shanghai and Shenzhen bourses stood at 420.9 billion yuan ($66.1 billion), less than one-fourth of the record turnover of 1.8 trillion yuan registered in April prior to the market crash.