Chinese shares started lower on Tuesday after a major slump in
the previous trading day, with the benchmark Shanghai Composite
Index opening at 3,564.43 points, down 105.97 points, or 2.89
percent lower.
The index, which tracks both yuan-denominated A-shares and
foreign currency-denominated B-shares listed on the Shanghai Stock
Exchange, closed at 3,670.4 points on Monday, down 8.26 percent
from last Friday.
The index had a cumulative fall of over 15 percent since the
bourse struck a high point of 4,335.18 points on May 29.
The continuous bearishness followed the government policy of
tripling stamp tax on stock trading from 0.1 percent to 0.3 percent
last week.
(Xinhua News Agency June 5, 2007)