Biz Scene: MARKET

Stocks down

China's A shares further slipped yesterday due to fears of new policy tightening.

The Shanghai Composite Index dropped 1.19 percent, or 57.72 points, to close at 4803.39, its lowest level in three months.

Turnover in the Shanghai A-share market was low at 53.26 billion yuan. A total of 370 companies gained while 391 experienced losses.

Capital injection

Shareholders of China Everbright Bank have approved a capital injection from the government, the bank said yesterday, paving the way for the mid-sized lender to sell equity stakes to strategic foreign investors.

The bank's chairman, Tang Shuangning, said earlier this month Everbright hoped to get 20 billion yuan from Central Huijin, part of China's newly established sovereign wealth fund.

(China Daily 11/29/2007 page15)