China A-shares close sharply lower on credit tightening concerns |
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Published
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Thu, 25 Jan 2007 08:47
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SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed sharply lower amid concerns that further tightening measures may be announced by the central bank to curb excessive liquidity coming into the stockmarket, dealers said.The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed down 117.76 points or 3.96 pct at 2,857.37.Turnover fell to 92.96 bln yuan from 97.52 bln in the previous session.The index moved between 2,853.82 and 2,947.15.The Shanghai A-share Index fell 123.49 points or 3.95 pct to 3,001.90 on turnover of 91.97 bln yuan and the Shenzhen A-share Index was down 31.70 points or 4.33 pct at 700.85 on turnover of 44.27 bln yuan.The FTSE/Xinhua China A 50 Index was down 270.25 points at 10,619.90. The FTSE/Xinhua China A 200 Index fell 232.78 points to 7,257.33 and the FTSE/Xinhua China A 600 Index was down 221.15 points at 6,908.97.(1 usd = 7.77 yuan)lilian.wu@xfn.com
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Asian shares close mostly lower on commodity prices, Wall St 