Oct. 28 (China Daily)--Stock markets on the Chinese mainland Monday joined the free fall worldwide by hitting a new low in 25 months as fears of a global economic recession continued to spook investors.
Sell-offs were the order of the day, with Hong Kong shares recording their biggest one-day fall in more than a decade and Tokyo's Nikkei ending at the lowest level in 26 years.
The benchmark Shanghai Composite Index dropped 6.32 percent, or 116.27 points, to close at 1723.35. The Shenzhen index slid 6.89 percent, or 424.14 points, to close at 5734.81.
Almost all sectors fell, with nearly 600 stocks dropping by the daily limit of 10 percent.
Investors were increasingly worried about the impact of the global financial turmoil on the wider economy, analysts said.
"The dive in global stocks last Friday led to investor panic, which was exacerbated by the absence of a stimulus package from the government over the weekend," said Wu Feng, an analyst at TX Investment Consulting in Shanghai.