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LAST UPDATE
September 2010


China stocks sink

China stocks sink 5.2pc despite government aid
(10-06 16:43)
China's stock market, resuming trade after a week-long national holiday, fell sharply in response to sliding share prices overseas and fears of a global economic slowdown.

Fresh efforts by regulators to support the market -- an announcement that margin trade and short-selling of shares would soon be launched on a trial basis, and the reopening of the medium-term corporate bills market -- slowed but could not halt the drop, analysts said.

The Shanghai Composite Index ended down 5.23 percent at 2,173.738 points.
During the week that the Chinese market was closed, the Dow Jones Industrial Average sank 7.34 percent.

Banks were particularly weak with the biggest bank, Industrial & Commercial Bank of China, slumping 6.44 percent.


 
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