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Chinese stocks open below 2,000 Wed.


13:34, November 28, 2012

BEIJING, Nov. 28 (Xinhua) -- Chinese stocks opened lower on Wednesday, with the benchmark Shanghai Composite Index opening at 1,984.48, down 0.34 percent from the previous close.

It was the first time in nearly four years that the Shanghai index opened below 2,000 points.

Chinese shares closed at 1,991.16 points Tuesday, the lowest level since February 2009, as investors worried over an anemic global economy and a shortage of liquidity on the stock market.

The Shenzhen Component Index opened at 7,914.32, down 0.28 percent.

Li Jian, an analyst with Everbright Securities Co., Ltd., said the indices might dip further below 2,000 points in the coming days as investors have failed to see government policies to shore up the market since the 18th National Congress of the Communist Party of China was held earlier this month.

The turning point may appear in mid-December, when the Central Economic Working Conference is slated to open, said Li.

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