China's stock markets set to weather global storms

Chinese stocks tumbled on Tuesday following an intensified global market rout, but equity analysts said they remained positive on the mid-and long-term market prospects given China's resilient economic fundamentals.

The benchmark Shanghai Composite Index declined by 3.35 percent, the biggest single-day drop in nearly two years. The Shenzhen ChiNext Index, which tracks stocks listed on the startup board, suffered even heavier selling, dropping 5.34 percent to a three-year low.

Equity analysts said the dramatic selling in Shanghai and Shenzhen was driven by investor sentiment influenced by the plunge in overseas markets, rather than being triggered by any worsening economic fundamentals.