【英语财经】周二中国股市再次大跌约3.5% Chinese equities take another beating, lose 3.5%

Chinese equities had their worst day in three weeks on Monday. Today, the loss was even steeper.

China's Shanghai Composite lost 3.5 per cent on Tuesday, following a 2.7 per cent tumble to begin the week. For the year it's now nursing a 7 per cent loss, versus a gain of as much as 60 per cent in June.

No new data was released today that might explain the move. Rather, investors are still trying to figure out how to value Chinese stocks as Beijing pulls back support, leaving buyers to look at fundamentals after a rally propelled them well beyond rational levels.

In the final 10 minutes of trading on Tuesday the top 50 companies in Shanghai rallied as much as 1.4 per cent, but this wasn't enough to produce a gain: they fell 2.4 per cent. The CSI 500, a collection of small cap stocks, lost 5.8 per cent.

The smaller Shenzhen Composite, which features a number of small tech-based and "new economy" stocks, finished the day 5 per cent lower. On Monday, it fell 6.7 per cent.

The Shenzhen index is now at its lowest since February 16. While it's still posting a year-to-date gain, the reversal has been stunning. In June it was sporting a 122 per cent gain for 2015; now it's less than 12 per cent.

In Shanghai, every sector fell, from energy stocks falling 1.6 per cent to IT stocks shedding 8.5 per cent.

Over the weekend a long-awaited plan to overhaul China's bloated state-owned enterprises (SOEs) was met with disappointment by investors. Data on retail sales and industrial output was also mixed.

周一，中国股市的表现为三周内最差的一天，但今天的跌幅甚至更大。

周二，上证综指下跌约3.5%，本周第一个交易日昨日跌幅为2.7%。今年以来，该指数累计下跌7%，6月时该指数涨幅高达60%。

今日没有发布或许可以解释股市行情的新数据。相反，在把中国股票推高至合理水平以上很高位置后，政府撤回了支持，让买家们关注基本面。如今，投资者们仍在努力思考如何给中国股票估价。

在最后10分钟的交易中，上证50指数曾上涨1.4%，但不足以扭转跌势，最终收跌2.38%。代表中小盘的中证500指数收跌5.65%。

规模更小的深证综指收跌4.97%，周一下跌了6.7%。该指数主要代表科技类中小型和“新经济”股票。

深证综指目前处于今年2月16日以来的最低点。尽管今年迄今，该指数仍是上涨的，但趋势的逆转是惊人的。6月份时，该指数年内涨幅达122%；如今涨幅已不到12%。

在沪市，所有板块都有所下跌，能源股下跌1.6%，IT股下跌8.5%。

周末公布的期待已久的对臃肿的国企进行改革的计划，令投资者感到失望。零售和工业产出数据也是喜忧参半。

译者/何黎