Stocks News
- Chinese shares dip 1.84% in morning session
Date: 2-Nov-2007 Sources: (Xinhua Online)
BEIJING, Nov. 2 (Xinhua) -- Chinese shares fell 1.84 percent in the morning session Friday after both bourses in Shanghai and Shenzhen started sharply lower amid concerns of strained funds on the news of the imminent mega listing of PetroChina.
The benchmark Shanghai Composite Index, which covers both A and B shares, ended the morning session at 5,805.39 points, down 108.9points from the previous closing.
PetroChina Company Limited, the listed arm of the country's largest oil producer, announced on Thursday that trading of its A-share are expected to start on the Shanghai Stock Exchange on November 5.
The company is expected to raise a record 66.8 billion yuan (8.95 billion U.S. dollars) from its listing in Shanghai, surpassing the 66.58 billion yuan achieved by China Shenhua Energy Company, the country's largest coal producer, earlier this month.
The Shenzhen Component Index on the smaller market closed the morning session at 18,658.18 points, down 486.44 points or 2.54 percent.
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