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Chinese shares fall to over three-year low

china-stockSHANGHAI: Chinese stocks fell through a key support level in afternoon trading on Monday to hit a more than three-year low for the first time in more than seven weeks on economic worries, dealers said.

 

The Shanghai Composite Index was down 0.78 percent, or 15.62 points, to 1,999.11 in afternoon trading, breaking through the 2,000 point level that dealers had pegged as support.

 

The benchmark index last fell to a more-than-three-year low of 1,999.48 points on September 26 this year.

 

"It's difficult for the index to stay above the 2,000 point level because of a lack of substantial pro-market policies at the moment," BOC International analyst Shen Jun told AFP.

 

"There are also uncertainties in both the domestic and global economies," he added.

 

Copyright AFP (Agence France-Presse), 2012