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Chinese shares down 0.85% on heavyweights drops
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15:58, April 21, 2009

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Chinese shares fell 0.85 percent on Tuesday dragged down by financial, coal and metal stocks.

Market performance was also affected by Wall Street overnight plunge, analysts said.

The benchmark Shanghai Composite Index fell 0.85 percent to close at 2,535.83 points. The Shenzhen Component Index dropped 1.56 percent to 9.640.90 points.

Losses outnumbered gains by 431 to 358 in Shanghai and 406 to 275 in Shenzhen.

Combined turnover was 243.76 billion yuan (35.67 billion U.S. dollars), compared with the previous trading day's 222 billion yuan.

On Wall Street, major indexes fell sharply Monday, as investors had doubts about banks' first quarter profit reports, and sold financial stocks to lock in profits from a strong six-week rally.

The Dow Jones industrial average lost 3.56 percent to 7,841.73,while the broader Standard & Poor's 500 index fell 4.28 percent to832.39.

Source: Xinhua



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