Chinese shares dropped 1.91 percent on Friday as investors confidence continue to wane on upcoming re-opening of initial public offerings (IPOs) on Shanghai and Shenzhen bourses, dealers said.
The benchmark Shanghai Composite Index lost 53.56 points to close at 2,743.76. Shenzhen Component Index weakened 1.64 percent, or 175.78 points to close at 10,524.13.
Wang Lin, an official with the China Securities Regulatory Commission (CSRC), said Thursday the end of a de facto suspension of IPOs would be prior to stock listing on the pending growth enterprise market (GEM), a Nasdaq-like stock market in China.
(Xinhua News Agency June 12, 2009)
