BEIJING - China's stocks fell on Tuesday, dragging the benchmark index down by its biggest daily loss in three weeks, over concerns of a slowdown in the world's second-largest economy.
The benchmark Shanghai Composite Index dropped 1.68 percent, or 39.23 points, to close at 2,291.90. The Shenzhen Component Index tumbled 1.93 percent, or 181.93 points, to finish at 9,266.71.
Most shares fell on the two bourses and trading was thin. Losers outnumbered gainers by 838 to 93 in Shanghai and by 1,231 to 154 in Shenzhen.
Aggregated turnover shrank to 109.7 billion yuan ($17.39 billion) from 128.85 billion yuan on the previous trading day.
China's industrial output growth is likely to slow to 11 percent this year from 13.9 percent in 2011, Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology, said at a Tuesday press conference.
The statement sparked new concerns that economic growth will slow this year and erode enterprises' earnings.
On Monday, the International Monetary Fund (IMF) cut its forecast for China's GDP growth this year to 8.25 percent from the 9 percent projected in September 2011. The country's economic growth could be cut by nearly half if the eurozone debt crisis worsens, the IMF said in a report released by its Beijing office.
The Industrial and Commercial Bank of China, the world's largest bank by market value, shed 1.81 percent to hit 4.33 yuan per share. China Vanke, the country's largest real estate developer, gave up 3.15 percent to close at 7.38 yuan. Inner Mongolia Baotou Steel Rare-earth Hi-tech Co., Ltd., the country's top producer of rare earth metals, slid 2.32 percent to reach 44.55 yuan.
Comments: (China Daily Website - Connecting China Connecting the World

USEUROPE
AFRICAASIA
中文Français


- HOME
- CHINA
- WORLD
- BUSINESS
- LIFESTYLE
- CULTURE
- TRAVEL
- WATCHTHIS
- SPORTS
- OPINION
- REGIONAL
- FORUM
- NEWSPAPER
- China Daily PDF
- China Daily E-paper
- MOBILE
BACK TO THE TOP

Copyright 1995 -
. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263
About China Daily
Advertise on Site
Contact Us
Job Offer
Expat Employment
FOLLOW US

)
Sorry, the page you requested was not found.
Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page
Registration Number: 130349