Markets

Bank, property stocks drive Chinese share market lower

(Xinhua)
Updated: 2010-09-08 16:15

BEIJING - Chinese equities fell from a four-month high as bank shares declined on reports that August bank lending may not exceed 500 billion yuan while property developers dropped on concerns that the government would take further steps to cool the property market.

The benchmark Shanghai Composite Index dropped 3.07 points, or 0.11 percent to close at 2,695.29. The Shenzhen Component Index rose 40.08 points, or 0.34 percent, to end at 11,722.78.

Combined turnover hit 252.43 billion yuan ($37.18 billion).

Losers outnumbered gainers by 486 to 367 in Shanghai while gainers outnumbered losers by 637 to 383 in Shenzhen.