China Stocks Get Slapped; Sydney, Seoul Rise

Mainland Chinese stocks tumbled on Monday after a few corporate profit warnings and some downbeat comments on the economy from Premier Wen Jiabao, sending the Shanghai Composite to its lowest finish in more than three years.

Australian and South Korean shares advanced in the wake of strong U.S. earnings reports.

The Shanghai Composite Index CN:000001 -1.74% dropped 1.7% to 2,147.96, a closing level it hasn’t seen March 13, 2009, when the benchmark ended at 2,128.85. The Shenzhen Composite Index, meanwhile, fell to 889.10, losing 3.6% for its worst percentage drop since a 4.1% plunge on March 28.

MarketWatch