China's blue-chip share index tumbled to a four-and-a-half-year low

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Mumbai: China's blue-chip share index closed at a 14-and-a-half-year low on Monday as domestic economic weakness worsened amid global market concerns. Apart from technology, there was heavy selling in other sector stocks.

China's CSI300 index fell by one percent on Monday to close at its lowest level since February 2019. The Shanghai Composite Index also fell 1.50 percent to a one-year low.

Just last week, Shanghai index broke the important level of 3000-points. Various adverse reports on China's economy continue to have an adverse effect there.

The recent rout in global markets, increased uncertainty and volatility in the dollar indicate emerging global risks, an analyst said.

Israel's attack on Lebanon in addition to Gaza has also raised concerns about the escalation of the conflict in the Middle East. On the one hand, the war situation is getting dark, while on the other hand, it is still not clear that the interest rate hike has stopped, so there is also concern among the investors.

These risks have aggravated the situation in other markets of the world including China. Despite relief measures by Beijing, the economy continues to be under pressure amid a property crisis in China.

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