HONG KONG: Asian equities tumbled on Monday on expectations of a Greek eurozone exit after Athens announced a referendum on creditors’ proposals, while Chinese stocks gyrated wildly after losing some 20 percent in the past two weeks.

Shanghai saw a 10 percent swing from gains to losses, extending a painful sell-off since hitting a June 12 peak. A weekend central bank interest rate cut was unable to offset profit-taking and the effects of a tightening of trading rules.

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