China stocks slump to six-month low on growth concern

China’s stocks slumped Monday to the lowest in more than six months, in wake of growing market concerns over future economic prospect.

The benchmark Shanghai Composite Index plunged 1.74 percent, or 37.94points, to close at 2147.96.

The Shenzhen Component Index tumbled 2.57 percent, or 251.6 points, to close at 9,540.89.

Chinese Premier Wen Jiabao warned over the weekend that the country’s economic rebound is not yet stable and economic hardship may continue for a period of time.

Xinhua