China market retreats from a two-month high

The Mainland China stocks ended sharply down on Wednesday, 21 October 2015, with small-cap stocks leading selloff on worries that recent gains were excessive as compared earnings prospect. The Shanghai Composite Index tumbled 3.06%, or 104.65 points, to close at 3320.68 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, tanked 5.94%, or 119.35 points, to 1889.13. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 6.63%, or 166.42 points, to close at 2344.74, after soaring 40% through Tuesday from last month's low.

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