Shanghai bourse slumps on consumer shares

Shanghai stocks slumped below 2,600 points Monday, led by losses in consumer shares such as the household appliances sector.

The Shanghai Composite Index fell 0.82 percent to close at 2,584.58 points. The smaller Shenzhen Component Index also dropped 1.41 percent to 7,624.86 points and the CSI 300 index closed 1.16 percent lower at 3,144.76 points.

More than 1,000 A-shares posted losses — 19 of them by the daily limit of 10 percent

Household appliances companies led the drop. TCL Group and the Shanghai Rongtai Health Technology Corporation both fell more than 5 percent

The catering and tourism sector was also among the biggest decliners. Songcheng Performance Development Co lost the daily cap of 10 percent, and Tempus Global Business Service Group Holding also fell sharply by 8.44 percent.