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Shares tumble 5.21% on producer price surge

(Xinhua)
Updated: 2008-08-11 16:23

An old couple eat their lunch in front of an electronic board at a brokerage house in Xiangfan, Hubei province, August 11, 2008. China's main stock index tumbled more than 5 percent to a fresh 19-month low on Monday. [Agencies]

Chinese shares plummeted 5.21 percent on Monday, reacting to news that the producer price index (PPI) for industrial products had risen 10.0 percent year-on-year in July, with the benchmark Shanghai Composite Index down 135.65 points to 2470.07.

The Shenzhen Component Index closed at 8,170.15 points, down 488.63 points, or 5.64 percent.

Combined turnover further shrank to 61.74 billion yuan ($8.99 billion) from 69.77 billion yuan on the previous trading day.

Losses outnumbered gains by 857-23 in Shanghai and 716-13 in Shenzhen.