China’s benchmark stock index closed down nearly 1 per cent on Monday, taking the combined losses for August to 12.5 per cent, following July’s fall of 14.3 per cent.
The smaller-cap Shenzhen Composite Index fell 3.1 per cent Monday, pushing it down 15.2 per cent in August, its worst monthly performance since August 2009.
Monday’s fall came after a week of wild swings in which the Shanghai Composite index saw its largest two-day sell-off in more than two decades on Monday and Tuesday, but then rallied more than 10 per cent at the end of the week.
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