Chinese shares close lower on liquidity concern
(Xinhua)
Updated: 2008-02-22 15:53
Chinese share prices closed lower amid liquidity concern aroused by upcoming initial public offerings of China railway construction giant and the overnight drastic decline on the Wall Street.
The benchmark Shanghai Composite Index ended Friday's trading at 4,370.29, down 156.89 points, or 3.47 percent, from the previous close of 4,527.18.
The Shenzhen Component Index for the smaller Shenzhen bourse lost 624.73 points, or 3.72 percent, to close at 16,179.52.
The combined turnover on the two bourses increased to 165.03 billion yuan (US$23.1 billion) from the 153.07 billion yuan on the previous day.
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