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China shares close morning trade 4.3% lower
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13:15, November 21, 2008

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Chinese shares ended the morning trade 4.3 percent lower on Friday, as investor sentiment got hard hit by massive sell-off on Wall Street overnight sparked by fears of a deep and prolonged recession.

The benchmark Shanghai Composite Index, which covers both A and B shares, slid 84.95 points, or 4.28 percent, to 1,898.81. It opened 2.65 percent lower at 1,932.60.

Buying interest was becoming weaker after earlier broad market rally and continued declines on regional markets, Everbright Securities said in a research note on Friday.

Overnight the Dow Jones Industrial Average tumbled 444.99 points, or 5.56 percent, to 7,552.29, the lowest level in more than five and a half years.

Other regional markets also tracked Wall Street loss. Hong Kong's Hang Seng Index dropped about 1 percent at noon.


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