China's Stocks Extend $3 Trillion Rout
- Shanghai benchmark closes at lowest level since November 2014
- Government encouraging insurers to invest in firms: report
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Supportive words from China’s securities regulator failed to slow the $3 trillion rout in the the nation’s stock market, as evidence of weakening domestic demand added to concern about the trade war with the U.S.
The Shanghai Composite Index fell 1.5 percent to its lowest close since November 2014. A gauge of consumer-related shares dropped the most after data showed purchases of passenger vehicles and online appliance sales slumped in September.