Chinese shares plummet after Wall Street fall

Beijing - China's main stock market index lost more than 4 per cent on Thursday as shares followed the global fall after more bad news from Wall Street on Wednesday.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, closed at 1,909.94 points after losing 84.73 points, or 4.25 per cent.

The smaller Shenzhen Component Index also fell by nearly 4 per cent, as state media blamed the slump on "growing fears over a global recession" and weakening confidence in Chinese stocks after several listed companies reported falling earnings this week.

The Shanghai index has lost more than two-thirds of its value since it recorded a record high of 6,124 points exactly one year ago, reports said.

Coal producers, oil refiners and insurance firms were among the biggest losers on Thursday, the official Xinhua news agency said. (dpa)

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