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Chinese shares dive 4.13% on worries about tightening monetary policies
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17:14, April 01, 2008

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Chinese shares nosedive 4.13 percent on Tuesday after central bank vowed to continue tightening monetary policies.

The benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 3,329.16, down 143.55 points, or 4.13 percent, from the previous close, and the lowest as of last April.

The Shenzhen Component Index on the Shenzhen Stock Exchange concluded the daily trading at 12,460.62, down 841.52 points, or 6.33 percent, over the previous trading day.

The Hushen 300 Index tracking the performance of both Shanghai and Shenzhen stock exchanges closed at 3,582.86, down 207.68 points, or 5.48 percent.

Combined turnover on the two bourses reached 109.26 billion yuan (15.60 billion U.S. dollars) on Tuesday, a lightly higher than that of Monday.

Tuesday saw more than 200 stocks falling by their daily limit of 10 percent.

Source: Xinhua

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