Beijing - Shares on China's main stock market lost more than 3 per cent of their value Monday, following similar falls in other Asian markets.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currency, lost 72.23 points to end the day at 2,325.14, down 3.01 per cent.

Analysts blamed the slump on the non-appearance of expected government measures to boost China's stock markets, concerns about the lack of profitability of some listed companies, and the impact of a new earthquake in the south-western province of Sichuan over the weekend, the Shanghai Daily newspaper said.

With Monday's fall the Shanghai index has lost more than 55 per cent of its value this year, but analysts had forecast a slump and warned for months that Chinese shares were heavily inflated.

The smaller Shenzhen Component Index also plunged by 3.29 per cent on Monday, closing at 673.51 after losing 21.68 points.

State-run steel, aluminum, auto and aviation firms were among the biggest losers in Shanghai, the newspaper said. (dpa)