Monday, August 18, 2008

Chinese shares hit 20-month low in broad-based, 5.3% slide

Chinese shares slid more than 5 percent on Monday to a 20-month low, dragged down by heavyweights, as almost every issue lost ground.

The benchmark Shanghai Composite Index tumbled 5.33 percent, or 130.74 points, to 2,319.87. The Shenzhen Component Index closed at 7,833.09 points, down 400.32 points, or 4.86 percent.

Aggregate turnover rose to 52.39 billion yuan from 47.19 billion yuan on Friday.

Losses outnumbered gains by 810-12 in Shanghai and 650-19 in Shenzhen.


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