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Shanghai Stocks Open Down 3.02%, Extending Slump

Shanghai Stocks Open Down Extending Slump
AFP/File / Johannes Eisele The benchmark Shanghai Composite Index opened down 3.02%, after fresh evidence of China's economic slowdown sent world stock markets tumbling Monday

Shanghai (AFP) – Shanghai stocks plunged 3.02 percent at the open on Tuesday, extending a near seven percent rout a day earlier that triggered an unprecedented early close, on worries over the world’s second-largest economy.

The benchmark Shanghai Composite Index slid 99.61 points to 3,196.65 while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, tumbled 5.03 percent, or 106.55 points, to 2,012.61.

But in Hong Kong the Hang Seng Index opened 0.23 percent, or 48.22 points, down at 21,375.34 — a day after plunging 2.68 percent.

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