China's shares hit 6-year low

China's shares hit their lowest intraday level in nearly six years, analysts blaming bearish sentiment on Beijing's economic cooling measures and its piecemeal steps to fix the stock market woes. The benchmark Shanghai composite index closed Monday at 1,200.113 points after dropping to 1185.45 points at noon, 1.71 points lower than the previous record in May 1999. Analysts warned of more losses to come, noting the impact of imminent IPOs on an already declining market.