Chinese shares plunge Tuesday led by heavyweights

Chinese equities plunged Tuesday led by declining heavy weights and banking stocks, paring earlier gains in the previous trading week.

The benchmark Shanghai Composite Index was down 3.45 percent, or 115.14 points, to close at 3,223.53 points.

The Shenzhen Component Index declined 2.9 percent, or 401.38 points, to close at 13,453.28 points.

Combined turnover jumped to 468.94 billion yuan ($68.67 billion) from 327.91 billion yuan on the previous trading day.

Source: BizChina