Shanghai Index plunges on slowdown concerns

An investor looks at his cell phone at a stock brokerage in Fuyang, Anhui province, March 10, 2014. [Photo/dfic.cn]

China's benchmark Shanghai Composite Index plunged heavily on Monday after weak economic data triggered concerns over further economic growth slowdowns.

The benchmark Shanghai Composite Index dropped by 2.86 percent to 1999, falling below the psychological 2000 level.

Analysts said weaker than expected export data triggered concern about China's weakening economy and a weakening yuan is having negative impact on industries, including property, financial services and mining.

Sectors including travel and hotels, aviation and insurance fell after a Malaysian plane carrying 154 Chinese passengers went missing and what happened to it is still unknown.

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