Not content with a 6.4 per cent tumble last Friday to cap off the worst week since the financial crisis, the Shanghai Composite chose to push the envelope today, chalking up a 7.4 per cent fall to 4,192.88.
At an intra-day low of 4,139.53, the index was down as much as 8.57 per cent.
The 7.4 per cent fall now ranks as the second-biggest fall this year for Shanghai stocks, behind a 7.7 per cent plunge on January 19. It also makes the cut as the fifth-biggest daily fall since 2000 (see table). The index is now down 18.8 per cent since a multi-year closing high of 5,166.35.
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