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Chinese Shares Sink 4.7% on Investors' Economic Concerns, Regional Losses
[2009-02-19 09:28:51]
Chinese equities recorded their largest one-day drop this year in falling volume Wednesday as investors worried that large gains since Jan. 1 couldn't be sustained, analysts said.
As of Monday, the index had gained more than 31 percent, and investors have become concerned that stock gains have outpaced fundamental economic improvement.
Declines on regional markets also undermined sentiment, they said.
The benchmark Shanghai Composite Index fell 4.72 percent, or 109.58 points, to 2,209.86. The Shenzhen Component Index declined 4.46 percent, or 377.65 points, to 8,083.5.
Combined turnover was 210 billion yuan (30.75 billion U.S. dollars), shrinking from 258.5 billion yuan the previous trading day.
Losers led gainers by 772 to 107 in Shanghai and 664 to 88 in Shenzhen.
Source: Xinhua
As of Monday, the index had gained more than 31 percent, and investors have become concerned that stock gains have outpaced fundamental economic improvement.
Declines on regional markets also undermined sentiment, they said.
The benchmark Shanghai Composite Index fell 4.72 percent, or 109.58 points, to 2,209.86. The Shenzhen Component Index declined 4.46 percent, or 377.65 points, to 8,083.5.
Combined turnover was 210 billion yuan (30.75 billion U.S. dollars), shrinking from 258.5 billion yuan the previous trading day.
Losers led gainers by 772 to 107 in Shanghai and 664 to 88 in Shenzhen.
Source: Xinhua
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