Markets

Chinese shares tumble over tightening policy speculation

(Xinhua)
Updated: 2010-11-16 15:54

BEIJING - Chinese equities slid Tuesday as investors worried prospects of higher interest rates and inflation control policies would hurt companies' earning.

Property developers, metal companies and banking shares fronted the sell-off with the benchmark Shanghai Composite Index down 3.98 percent, or 119.88 points, to close at 2,894.54.

The Shenzhen Component Index fell 4.61 percent, or 590.82 points, to end at 12,217.27.

Combined turnover expanded to 398.13 billion yuan ($59.96 billion) from 355.3 billion yuan the previous trading day.

Losers outnumbered gainers by 774 to 115 in Shanghai and 898 to 191 in Shenzhen.