Chinese shares close lower at midday Tuesday; banking, steel stocks fall

15:28, December 08, 2009      

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Chinese shares closed lower midday on Tuesday, led by banking and steel stocks.

The benchmark Shanghai Composite Index was down 1.32 percent, or 43.95 points, to close at 3,287.94 points.

The Shenzhen Component Index lost 0.97 percent, or 136.63 points, to 13,914.89 points.

The Hushen 300 Index reflecting the performance of the country's Shanghai and Shenzhen stock exchanges ended 1.3 percent lower midday at 3620.98 points.

Banking shares declined across the board. The Industrial and Commercial Bank of China, shed 1.49 percent to 5.3 yuan. Bank of China dropped 1.63 percent to 4.22 yuan; China Construction Bank down 1.29 percent to 6.12 yuan.

Ansteel down 2.02 percent to 15.5 yuan; Wuhan Iron and Steel down 2.18 percent to 8.51 yuan.

Source: Xinhua
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