China shares plunge to eight-month low
Friday, 7 May 2010
SHANGHAI, May 6 (Agencies): Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.
The Shanghai Composite Index, which covers both A and B shares, closed down 4.11 per cent, or 117.45 points, at 2,739.70 on turnover of 113.2 billion yuan (16.6 billion dollars).
The key index is at its lowest level since September 2, 2009, when it ended at 2,714.97.
"The concerns about policy tightening, possible further fund-raising from banks and also weakness from the US and European markets all contribute to the sluggish sentiment," Shenyin Wanguo Securities analyst Qian Qimin told Dow Jones Newswires.
The Shanghai Composite Index, which covers both A and B shares, closed down 4.11 per cent, or 117.45 points, at 2,739.70 on turnover of 113.2 billion yuan (16.6 billion dollars).
The key index is at its lowest level since September 2, 2009, when it ended at 2,714.97.
"The concerns about policy tightening, possible further fund-raising from banks and also weakness from the US and European markets all contribute to the sluggish sentiment," Shenyin Wanguo Securities analyst Qian Qimin told Dow Jones Newswires.