SEOUL, South Korea (AP) – The Shanghai share index dived more than 8 percent Monday as Chinese stocks suffered a renewed sell-off despite government efforts to support the market.
Other Asian markets also were lower. The Shanghai Composite Index closed down 8.5 percent at 3,725.56.
Chinese shares fell dramatically in June after a sizzling yearlong rally took the market to unsustainable heights.
A period of stability was achieved after the government announced draconian support measures including forbidding major shareholders from selling any of their shares.
Monday’s fall was the biggest one-day decline since Beijing began its intervention.