Shanghai shares end down 1.27% despite rate cut

GMT 07:52 2015 Wednesday ,26 August

Arab Today, arab today Shanghai shares end down 1.27% despite rate cut

Shanghai stocks market
Shanghai - Arab Today

Shanghai stocks closed down 1.27 percent in volatile trading on Wednesday, extending days of falls despite a central bank interest rate cut aimed at boosting the flagging economy and slumping shares, dealers said.

China's benchmark Shanghai Composite Index fell 37.68 points to 2,927.29 on turnover of 461.8 billion yuan ($72.1 billion). It surged up to 4.29 percent and was down as much as 3.85 percent during the day.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, dropped 3.05 percent, or 53.31 points, to 1,695.76 on turnover of 432.2 billion yuan.

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