“China’s stocks fell, with the benchmark index closing below 2,000 for the first time since 2009, as the value of shares traded slumped to the lowest in four years. Material and health-care companies led losses.
The Shanghai Composite Index (SHCOMP) dropped 1.3 percent to 1,991.17 at the 3 p.m. local-time close, its lowest level since Jan. 23, 2009. Shares worth 33.1 billion yuan ($5.3 billion) changed hands in the measure yesterday, the least since Nov. 7, 2008, while data showed that the number of A-share trading accounts that made transactions last week fell to 5.6 million, the lowest for a five-day week since at least January 2008.
“Investors are voting with their feet,” Zhang Ling, general manager at Shanghai River Fund Management Co., said by phone. “Regulators need to roll out policies such as encouraging more investments in the biggest stocks to restore investors’ confidence.” ”
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