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China's stocks enter bear market...

 China's stocks enter bear market...

Chinese stocks tumbled, sending the benchmark index into a bear market, as signs of an exodus by leveraged investors overshadowed the central bank's effort to revive confidence with an interest rate cut.The Shanghai Composite Index dropped 3.3 per cent to 4,053.03 at the close, taking declines from its June 12 peak to more than 20 per cent. The gauge swung between a loss of 7.6 per cent and a gain of 2.5 per cent in Monday trading, recording the biggest intra-day point move since 1992. A measure of technology stocks sank 7.3 per cent to lead declines among industry groups.

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