China A-shares close sharply lower amid credit tightening fears; banks tumble |
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Thu, 19 Apr 2007 08:40
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SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed sharply lower amid concerns about possible credit-tightening measures with banks, steelmakers and property developers hit, dealers said.The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 163.38 points, or 4.52 pct, at 3,449.02, after moving between 3,358.93 and 3,617.44.Turnover rose to 187.76 bln yuan, an all-time high, from 167.42 bln in the previous session.The Shanghai A-share Index was down 171.79 points or 4.52 pct at 3,624.90 on turnover of 186.74 bln yuan and the Shenzhen A-share Index was down 52.10 points or 4.92 pct at 1,006.08 on turnover of 103.73 bln yuan.The FTSE/Xinhua China A 50 Index was down 563.48 points at 12,009.59. The FTSE/Xinhua China A 200 Index was down 437.42 points to 8,906.14 and the FTSE/Xinhua China A 600 Index was down 405.04 points at 8,006.43.(1 usd = 7.73 yuan)lake.xu@xinhuafinance.com
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Asian stockmarket summary 