Chinese Shares Slump over Growth Concerns

BEIJING, July 16 (Xinhua) -- China's stocks slumped on Monday morning due to concerns over the growth prospect after Chinese Premier Wen Jiabao warned of more economic hardship at weekend.

The benchmark Shanghai Composite Index lost 1.2 percent, or 26.2 points, to close the morning session at 2,159.69.

The Shenzhen Component Index dipped 1.66 percent, or 162.6 points, to close at 9629.89.

China's economic rebound is not yet stable and economic hardship may continue for a period of time, Wen said at a conference in southwest China's Chengdu city attended by provincial officials from Henan, Hunan, Guangxi, Sichuan and Shaanxi on Saturday.