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Falling China stocks just above key mark

(Xinhua)

08:24, August 23, 2012

BEIJING, Aug. 22 (Xinhua) -- Chinese stock markets continued their weak performance on Wednesday as the benchmark index dropped half a percent nearer to a key level, unaffected by recent rallies in global peers.

The benchmark Shanghai Composite Index opened slightly higher at 2,118.88 but gave up its gains a minute later and wavered in negative territory for the rest of the trading before closing at 2,107.71.

The belief that policymakers may not spur the slowing economy through monetary loosening measures in the short term discouraged investors, sending the Shanghai index below the key 2,100-point mark at 2,097.61.

Opening 0.11 percent higher, the Shenzhen Component Index also reversed its early gains and suffered deeper losses to close at 8,726.02 points, down 123.47 points, or 1.4 percent.

Fewer shares changed hands, with the index recording a combined turnover of 111.11 billion yuan (17.54 billion U.S. dollars), compared with 115.23 billion yuan on Tuesday.

Losers outnumbered gainers by 688 to 235 in Shanghai and 1,020 to 462 in Shenzhen.


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