HONG KONG, July 16 — Shares in mainland China plunged today, extending a recent sell-off after a surge this month that had seen the Shanghai markets pile on more than 15 per cent, while Hong Kong was hit by concerns about a spike in virus infections at home and around the world.
Data showing China’s economy expanded more than expected in the second quarter was unable to offset the glum mood.
The benchmark Shanghai Composite Index sank 4.50 per cent, or 151.21 points, to 3,210.10 while the Shenzhen Composite Index on China’s second exchange tumbled 5.20 per cent, or 117.55 points, to 2,144.25.
The Hang Seng Index in Hong Kong shed 2.00 per cent, or 510.89 points, to 24,970.69. — AFP