Chinese stocks got a brief uplift when it opened about five percent higher on Monday after authorities announced a tax cut on stock trading for the first time since 2008.
But most of the gains were gone by the afternoon—closing with just above a one-percent gain.
Chinese stocks are among the world’s worst performers in August.
Concerned with the country’s economy and real estate crisis —
Foreign investors have been dumping billions of dollars worth of Chinese stocks in recent weeks.