China's shares slump almost 3% on fears of rates hike

Updated: 2011-01-20 17:02

(Xinhua)

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BEIJING -- China's stocks tumbled 2.92 percent on Thursday as the latest inflation data heightened concerns of possible interest rates hike around the nation's annual Spring Festival which falls on February 3.

The benchmark Shanghai Composite Index shed 2.92 percent, or 80.45 points, to close at 2,677.65 points.

The Shenzhen Component Index lost 4.14 percent, or 499.81 points, to end at 11,566.74 points.

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