11:20 | 30/07/2015 Global Economy
Asian shares slumped on Monday, led by Shanghai and Chinese shares.
Despite government’s efforts to support the market, the benchmark Shanghai Composite Index plunged 8.48 percent, its worst single-day loss in eight years.
According to analysts, the sharp drop came amid fresh data showing that China's growth continues to face strong headwinds. While some economists hailed the government's efforts to stem risks to the broader economy, others suggested that more market-oriented measures be taken as they believe government intervention is only delaying the inevitable./.