Investors stampeded out of shares after a grim 'Black Monday' sparked mayhem in global financial markets but failed to prompt fresh rescue measures from Beijing. The blue-chip CSI300 index fell 7.1 percent to 3,042.93, while the Shanghai Composite Index lost 7.6 percent to 2,964.97 points.
All index futures contracts slumped by their 10 percent daily limit for the second day, reflecting extremely bearish sentiment and pointing to darker days ahead.
China's benchmark indexes have now lost roughly 20 percent in August and are heading for their worst monthly performance in six years, barring a sharp rebound in the last few days of the month.
Yesterday, China stocks fell nearly 9 percent in the worst single-day trading session since 2007.
Investors had hoped the sharp drop and its global repercussions would prompt swift action from Beijing, but no economic or emergency market rescue measures were announced overnight.

Latest News  from Business News Desk