Chinese share prices lower in morning trade

2007-12-27 21:37:46 AFP

SHANGHAI, Dec 28, 2007 (AFP) - Chinese share prices were 0.38 percent lower in Friday morning trade with consumer stocks hit by profit-taking after recent gains, dealers said.

They said a sell-off on Wall Street following the assassination of Pakistan opposition leader Benazir Bhutto, which stoked geopolitical worries, also kept trade cautious.

However, airlines saw some interest after the central bank set the yuan's daily reference rate at a record 7.3046 to the dollar. Strength in the local currency is seen to make the airlines' foreign debt more affordable.

The benchmark Shanghai Composite Index ended the morning down 19.93 points or 0.38 percent at 5,288.96.

The Shanghai A-share Index fell 20.97 points or 0.38 percent to 5,550.36. The Shenzhen A-share Index lost 3.83 points or 0.25 percent at 1,523.98.