China stocks drop to fresh low on Tuesday

BEIJING -- Chinese stocks wiped out early gains and headed downward to close at new low in more than three years on Tuesday, as concerns over growth in the world's second-largest economy and absence of more stimulus measures held investors in cautious positions.

The benchmark Shanghai Composite Index fell 15.5 points, or 0.75 percent, to close at 2,043.65, marking the lowest level since February 2009.

The Shenzhen Component Index slumped 117.84 points, or 1.41 percent, to close at 8,243.83.