Stocks hit 32-month low

China's stock markets slumped to their lowest level in 32-months Thursday. The fall was blamed initially on sliding metal futures, followed by a sell-off in shares of SMEs and high-tech companies, state media reported. The benchmark Shanghai Composite Index, grouping foreign-currency B shares and yuan-denominated A shares, dropped 3.88% to finish at 1332.94 points. Meanwhile the Shenzhen Composite Index suffered an even greater fall, dropping 4.99% to close at 355.60 points. Several big companies saw their share prices fall to hit their 10% daily limits.