Mainland markets hit seven-month low

Mainland markets hit a seven-month low yesterday amid concerns that shareholders would continue their sell-off, South China Morning Post reported. The China Securities Regulatory Commission (CSRC) warned companies not to "maliciously seize money from the market" or launch large issues that could hurt the market. The Shanghai Composite Index fell 178 points yesterday to close at 4,193 – its lowest since July 20, while the Shenzhen Composite Index dropped 51 points to 1,331. Brokers said Beijing’s approval of new equity funds was not enough to soothe investors, who believed the slump would continue. Hong Kong’s Hang Seng Index took cues from the mainland decline, finishing down 35.9 points at 23,269.