The Shanghai Composite index is now down 0.4% on the day

And for the year, it's closing in on a 22% drop from the January highs. There's just no reprieve in sight for Chinese stocks as it would seem. The losses today would have been much worse if not for the fact that energy stocks are outperforming on the back of much higher oil prices overnight.

The energy sector - which holds a weightage of almost 10% on the index - is up by 1.7% on the day. The only other decent performer is tech stocks - which account for about a 5% weightage.

Other than that, all other major contributors are down on the day. And that says a lot about the general performance of the index. The bleeding continues...