BEIJING, Feb. 2 (Xinhua) -- The benchmark Chinese stock index dropped more
than 4 percent Friday as investors took profits from blue chip shares on
concerns they are over-priced following strong rises over the past months.
The key Shanghai Composite Index fell 4.03 percent to 2,673.21points. The
benchmark index on the Shenzhen Stock Exchange dropped4.58 percent to close at
7,348.03 points.
China Life Insurance was down 7.2 percent to 35.99 yuan; Baoshan Iron and
Steel declined 6.48 percent to 8.81 yuan and China Unicom fell 4.12 percent to
4.65 yuan.
Analysts also say investors are concerned that regulators may soon take
protective measures to prevent a stock market bubble from bursting.
The Shanghai index dropped more than 7 percent this week. During the first
three weeks of the new year, it had risen nearly 10 percent. The benchmark index
gained more than 130 percent last year.
Wang Xingjun, an analyst with
the Donghai Securities, said the declines this week are normal following a long bullish period
and investors should not be too pessimistic.
Related:
Chinese shares
open down 1.49%
BEIJING, Feb. 1 (Xinhua) -- Chinese shares opened lower
on Thursday after tumbling neary 5 percent the previous day amid market worries over high stock
valuations. The benchmark Shanghai Composite Index opened at 2,744.81 points, down by 41.52
points or 1.49 percent.
Chinese shares
close sharply down
BEIJING, Jan. 17 (Xinhua) -- China's major stock indices dropped sharply on Wednesday, after a two-day rebounding. The benchmark Shanghai Composite Index closed at 2,778.90
points, down 42.12 points from the previous close. The benchmark Shanghai
Composite Index closed at 2,778.90 points, down 42.12 points from the previous
close.
China's stock
market sees slight drop after banking shares decline
SHANGHAI, Jan. 6 (Xinhua) -- A sharp drop in the share
prices of two Chinese banks dragged down China's Shanghai Stock Exchange which
finished the week off 1.26 percent. The shares of both the Industrial and
Commercial Bank of China and the Bank of China fell by 10 percent, the maximum
allowable daily limit on Friday. The decline caused the Shanghai Composite Stock
Index to lose 1.28 percent on Friday to close at 2641.33 points.
