Shanghai Composite May Test Support At 4,000 Points

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The Shanghai Composite Index may test support at the 4,000-point level on Monday after tumbling 93.02 points or 2.26 percent to 4,027.27 on Friday, snapping a two-day winning streak. The Shenzhen Composite Index slumped 90.08 points or 3.13 percent to 2,786.04. Losses were broad-based, with financials, property, and resource stocks leading the decline; Jiangxi Copper cratered 6.69 percent and China Life Insurance plunged 5.01 percent. The weakness followed a flat-to-lower lead from Wall Street, where the Dow shed 44.51 points to 51,876.11 amid uncertainty over the U.S.-Iran peace process and interest rate outlook.

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