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1st LD: Chinese shares plunged Monday despite easing move

Xinhua, June 29, 2015 Adjust font size:

Chinese shares plunged on Monday, with the benchmark Shanghai Composite Index down 3.34 percent to finish at 4,053.03 points.

The Shenzhen Component Index lost 5.78 percent to close at 13,566.27 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, slumped by 7.91 percent to end at 2,689.76 points.

The stock market saw sharp fluctuations during Monday's trading despite the central bank's easing move which was rolled out on Saturday to cut both the requirement reserve ratio (RRR), the amount of reserves banks required to hold, and benchmark interest rates. Endi