Shanghai, Hong Kong Tumble.

The article reports on China's benchmark stock index plunging to its lowest level since mid-August 2007. The performance is attributed to government policies that have removed the market's momentum. The Chinese government is giving more signals that it discourages any eventuality of an asset bubble. The Shanghai Composite Index pulled the market to its first close below the 5000 mark since August 22, 2007. On the other hand, Shanghai Composite was off from record in October 2007 by roughly a fifth.