China stocks tumble as investors remain cautious

20-Aug (Guardian) — China stocks tumbled again in late trading, underscoring fragile investor confidence in the market as worries about the world’s second-largest economy persist.

Shares were marginally lower on Thursday morning in China, as statements by a slew of companies that the government had invested in boosted some counters. But by mid-afternoon, prices began to drop.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 3.2%, to 3,761.45 points, while the Shanghai Composite Index lost 3.4%, to 3,664.29.

The Shanghai exchange is down about 7% since China devalued the yuan by nearly 2% on 11 August.

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PG View: U.S. shares are down sharply.