Editorial Summary

The Shanghai Composite Index plunged 4.13 percent to close at 3,329.2 on Tuesday, while the Shenzhen Composite Index dropped 7.32 percent to close at 1,018. Trading volume on the Shanghai and Shenzhen Stock Exchanges was RMB73.1 billion and RMB36.2 billion, respectively. Virtually all of the growth in the Shanghai Composite Index over the last year has now been wiped out, with the Index hitting its lowest point since April 6, 2007. The Shanghai composite index fell 20.14 percent in the month of March, the largest monthly decline since August 1994.

China Oilfield Services Limited (COSL) (601808.SH) rose 5.22 percent to close at RMB 22.96 on Monday, after the company announced its 2007 net profit rose 98.4 percent to RMB 2.2 billion, according to the company's annual report filed with the Shanghai Stock Exchange.