China shares tumble 4.25% on gloomy corporate earning reports

2008-10-16 07:24:16 GMT2008-10-16 15:24:16 (Beijing Time) Xinhua English

BEIJING, Oct. 16 (Xinhua) -- Chinese shares slumped 4.25 percent on Thursday amid rising concerns over a global recession, while domestic investor confidence was further hit as listed companies reported falling corporate earnings for the third quarter.

The benchmark Shanghai Composite Index lost 84.73 points to end at 1,909.94 points. The Shenzhen Component Index finished at 6,166.56 points, down 3.74 percent.

Aggregate turnover edged up to 51.32 billion yuan (7.5 billion U.S. dollars) from Wednesday's 42.37 billion yuan.

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