Stock market drops 2.76%

SHANGHAI: The mainland stock market fell 2.76 percent yesterday to close at a 15-month low as investor concerns about continuing inflationary pressures and more tightening measures persisted.

The torrential rain and floods across South China, which has caused an economic loss of 10.6 billion yuan, is expected to intensify the inflationary pressure and trigger investor concerns about more control measures, analysts said.