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Chinese shares dive more than 5% on pessimistic mood

(Xinhua)
Updated: 2009-08-17 15:58

BEIJING: Chinese shares dived more than 5 percent on Monday amid increasing worries about shrinking liquidity and pessimistic economic forecasts.

The benchmark Shanghai Composite Index was down 5.79 percent, or 176.34 points, to close at 2,870.63. The Shenzhen Component Index dropped 6.65 percent, or 830.95 points, to finish at 11,668.8.

Combined turnover on the two bourses shrank to 214.48 billion yuan (US$31.40 billion) from previous trading day's 227.67 billion yuan.