Chinese stock markets plunge over fears share prices are unsustainable

China's Shanghai composite index falls more than 7% in mass sell-off after six months of frenetic buying driven by a state clampdown on property investment

Chinese stock markets plunged on Friday as investors rushed to sell over fears that frenzied buying in recent months had sent share prices to unsustainable levels.

The Shanghai composite index, which reached a post-crash record of 5,166 earlier this month, has since lost nearly 1,000 points, down more than 7% at the last session to 4,193. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 7.9%.