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Chinese shares open 1.1% lower despite rises in peripheral markets
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11:19, October 13, 2008

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Chinese share prices tumbled 1.1 percent at opening on Monday to 1,978.56 points despite rises in neighboring markets.

The Shanghai Composite Index opened at 1,978.56 points, down 22.01 points or 1.1 percent from the previous closing. The smaller Shenzhen Component Index opened at 6,330.19 points, down 55.17 points or 0.86 percent from Friday's closing 2,000.57 points.

Shares of Australia and the Republic of Korea bounced on Monday after policy makers around the world took further steps to face up to the turbulence of the international financial market.

On Friday, Chinese shares shed 3.57 percent, falling for the sixth consecutive day dampened by weak market confidence amid the global turmoil.

Source:Xinhua



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