Chinese share prices fell slightly on Thursday as the benchmark
Shanghai Composite Index closed 0.88 percent lower.
The key index, which covers both A and B shares, slipped 47.42
points to finish at 5,365.27. It ended four straight trading
sessions of decline on Wednesday by soaring 4.94 percent to
5,412.69.
The Shenzhen Component Index on the smaller Shenzhen Stock
Exchange dropped 258.65 points, or 1.49 percent, to 1,7096.90.
The Hushen 300 Index, accounting for 60 percent of the nation's
two stock markets value, fell 64.78 points, or 1.26 percent, to
5,081.11.
Combined turnover at the two bourses shrank by a small margin to
122 billion yuan (US$16.4 billion) from 130 billion yuan of the
previous session.
Analysts said investors remained cautious amid worries the
central bank may further raise the interest rates over the weekend
to curb strong inflation and a surging economy.
China's consumer price index rose to 6.5 percent in October, up
from 6.2 percent in September and matching the 11-year monthly
record in August, the National Bureau of Statistics said on
Tuesday.
China will boost macro-economic control to prevent an
overheating economy and take further measures to stabilize general
price level, said the executive meeting of the State Council
presided by Premier Wen Jiabao on Wednesday.
Profit-taking sank energy stocks that posted huge gains on
Wednesday.
PetroChina, the nation's largest oil and gas producer, shed 2.49
percent to 37.91 yuan. China Shenhua Energy, the nation's largest
coal producer, plunged 4.19 percent to 67.39 yuan.
On Wednesday PetroChina climbed five percent to 38.88 yuan and
China Shenhua Energy soared 9.94 percent to 70.34 yuan.
Financial stocks turned in mixed performance. Shanghai Pudong
Development Bank rose 1.61 percent to 54.78 yuan. Industrial and
Commercial Bank of China rose 0.12 percent to 8.36 yuan.
Citic Securities, the country's largest stock brokerage, slumped
1.05 percent to 102.71 yuan.
The A share index on the Shanghai Stock Exchange slid 49.68
points, or 0.87 percent, to 5,632.87 and the B share index fell
4.08 points, or 1.18 percent, to 340.68.
(Xinhua News Agency November 15, 2007)
