China stocks tumble again despite monetary easing
SHANGHAI, June 29 (Reuters) - China stocks ended an extremely volatile session down more than 3 percent on Monday, as investors shrugged off fresh monetary easing and dumped shares in panic.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 3.3 percent, to 4,191.55, while the Shanghai Composite Index also lost 3.3 percent, to 4,053.03 points.
On Saturday, China cut lending rates and reserve requirements at some banks, after mainland markets plunged the day before.
On Monday, main indexes tumbled more than 7 percent at one point, but erased some losses after a state-backed provider of margin financing moved to temper the sell-off, saying the risk of margin trading is controllable and margin calls are relatively small. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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