Money

China's stocks close lower Wednesday

(Xinhua)
Updated: 2011-02-09 15:49
Large Medium Small

BEIJING - Chinese stocks closed lower Wednesday, the first trading day after the week-long holiday that celebrates the Chinese lunar New Year, the Year of Rabbit, as the latest interest rates hike refreshed investor's concerns over inflation.

Related readings:
China's stocks close lower Wednesday Rate hike 'aims to help tame inflation'
China's stocks close lower Wednesday Li Daokui: Rate hike likely in first quarter
China's stocks close lower Wednesday Investors bet on tighter policy controls
China's stocks close lower Wednesday China ranks higher up on earth by stock market capitalization

The benchmark Shanghai Composite Index dropped 0.89 percent, or 24.9 points, to 2,774.07 points.

The Shenzhen Component Index retreated 1.53 percent, or 183.59 points, to 11,807.93 points.

Amid increasing pressure to control inflation, the People's Bank of China (PBOC), the central bank, announced Tuesday that it would raise benchmark one-year borrowing and lending rates by 25 basis points beginning Wednesday.

分享按钮