Chinese shares dropped 1.67 percent to close at 1,983 points on Thursday despite sharp falls on other global equities markets.

The benchmark Shanghai Composite Index, which covers both A and B shares, fell 1.67 percent to 1,983 points. The Shenzhen Component Index lost 0.25 percent to 6,696 points.

The relatively slighter falls resulted from rising investor confidence over a series of polices taking by the central government to stimulate economic growth, analysts said.

(Xinhua News Agency November 20, 2008)