China shares slump as investors dump over-valued sectors; SMIC tumbles

SHANGHAI: China's benchmark Shanghai Composite Index ended at its lowest close since late July as investors sold off sectors seen as over-valued, and as the reported possible blacklisting of China's largest chip maker by the United States hit tech firms.

At the close, the Shanghai Composite index was down 1.87% at 3,292.59, the lowest closing level for the index since July 30. It was the fourth straight day of losses for the Shanghai index, and its steepest one-day drop since July 24.