SHANGHAI: Chinese shares tumbled Thursday as investor enthusiasm plunged after the government released the last in a series of stimulus plans.
The benchmark Shanghai Composite Index dropped 85.32 points, or 3.9 percent, to close at 2121.25. The Shenzhen Composite Index for China's smaller second exchange tumbled 6.1 percent to 689.92.
The government released the last of a series of 10 industry stimulus plans on Wednesday targeting nonferrous metals producers and logistics companies. Earlier plans promised tax cuts and other support to steel makers and other industries.
"Now that the government's stimulus plans all have came out, investors have nothing to speculate on," said Zhang Xiang, an analyst for Guodu Securities in Beijing. "It's time for the market to adjust.
