China stocks tumble over 6 percent, worst loss in a month

Thomson ReutersAn investor points to an electronic board showing stock information as he speaks to another investor, at a brokerage house in Nanjing, Jiangsu province, China

SHANGHAI (Reuters) – China stocks tumbled more than 6 percent on Thursday, posting their biggest one-day loss in a month, as investors booked profits after the market’s recent rebound.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 6.1 percent, to 2,918.75 points, while the Shanghai Composite Index lost 6.4 percent to 2,741.25.

Traders and analysts cited a confluence of reasons for the slide, including profit-taking, fears of tighter liquidity in the financial system, worries about the cooling economy and anxiety over looming liberalization to initial public offerings (IPOs), which some investors fear could result in a cash crunch.

(Reporting by the Shanghai Newsroom; Editing by Kim Coghill)

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