The Shanghai composite index fell 4.6 per cent to a three-week low of 1,897.23 amid concerns that the 27 basis point easing by the People's Bank of China might not be sufficient to arrest the slowdown in the country's economic expansion.
Technical analysts noted that the index had broken below its 60-day moving average – a bearish indicator.
The looming expiries this week of lock-up periods for a large volume of shares also unsettled investors.
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