Chinese shares slightly lower in morning trade

Chinese share prices were slightly lower during Monday morning trading as investors focused their attention on two newly announced initial public offering plans, dealers said.

The plans announced by China State Construction Engineering Corp and Shaanxi Provincial Natural Gas Company raised concerns that market liquidity would tighten as investors sought stakes in the two companies, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, fell 5.79 points or 0.17 percent to 3427.57 by 10:19 am (0219 GMT).

The Shanghai A-share index was down 6.21 points or 0.17 percent to 3,596.45 points, while the Shenzhen A-share index shed 9.06 points or 0.83 percent to 1,079.53.

(Agencies)