Chinese stock market plunges following US rout
Published: Sep 09, 2020 11:53 AM

Chinese investors look at a screen displaying prices of shares at a stock brokerage house in Hangzhou, East China's Zhejiang province. Photo: IC

Chinese stock market plummeted in morning trading on Wednesday, following a US stock rout overnight.

The Shanghai benchmark dropped 1.58 percent to 3,263.02 points as of press time in morning trading while the tech-heavy ChiNext index plunged 4.16 percent as semiconductor and vaccine shares led the sell-off.

The Shenzhen Component Index declined by 2.80 percent.

In Hong Kong, the Hang Seng Index opened lower by 1.34 percent. Shares of e-commerce platform Inc dropped by 4.2 percent, and smartphone maker Xiaomi declined 2.23%.

In the US, the NASDAQ fell more than 4 percent on Tuesday, having lost more than 10 percent in the past three sessions and suffering its worst week since March. That market officially entered correction territory. 

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