Chinese stocks slumped, spearheaded by technology shares, as Premier Li Keqiang waved downward pressures on the economy.
Li said China is contending with several struggles and it will cultivate supply-side structural revamps to ensure growth lies within acceptable range. Officials are attempting to revitalize the Chinese economy despite uncertainties.
The Shanghai Composite Index closed at 3,014.21, down 0.7%. Beijing Shiji Information Technology Co. led the plunge for tech stocks. Zhejiang Dahua Technology Co. lost 4.3%, while ZTE Corp. slipped 2.3%.
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