Equities slump as investors lock in gains

Equities slumped on Monday as investors cashed out to lock in gains from October's bullish market and a batch of listed companies delayed the release of their third quarter earnings reports, said experts.

The Shanghai Composite Index fell by as much as 1.7 percent on Monday morning and closed the day with a 0.77 percent decline to 3,390.34 points. The Shenzhen Component Index dropped by 1.15 percent, and the ChiNext startup index tumbled 2.12 percent.

Chinese liquor producer Kweichow Moutai Co Ltd dropped by 4.24 percent on Monday after shares rose to a record high last Friday. Shares of more than 30 listed companies fell by the 10 percent downside limit on Monday.