Editorial Summary

The Shanghai Composite Index plunged 3.6 percent on Monday to close at 3,820, while the Shenzhen Composite Index dived 6.34 percent to close at 1,158.9. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB73.6 billion and RMB34 billion, respectively.

Copper stocks led the market downturn. Shares of Yunnan Copper (000878.SZ) and Jiangxi Copper (600362.SH) both fell by the daily limit of 10 percent to close at RMB40.86 and RMB39.58, respectively, on Monday in Shanghai.

Despite the recent bearish market, Shanghai Film Group (SFG) is still planning an A-share listing. SFG plans to raise at least RMB1 billion, but has not set an exact timetable yet, reports Shanghai Securities Journal quoting SFG president Ren Zhonglun. Shanghai Film Group recorded more than RMB382 million in sales in 2007, one-seventh of total movie ticket sales nationwide, said the report.