Wed, February 09, 2011
Business > Markets

China's stocks close lower Wednesday

2011-02-09 07:46:55 GMT2011-02-09 15:46:55(Beijing Time)  Xinhua English

BEIJING, Feb. 9 (Xinhua) -- Chinese stocks closed lower Wednesday, the first trading day after the week-long holiday that celebrates the Chinese lunar New Year, the Year of Rabbit, as the latest interest rates hike refreshed investor's concerns over inflation.

The benchmark Shanghai Composite Index dropped 0.89 percent, or 24.9 points, to 2,774.07 points.

The Shenzhen Component Index retreated 1.53 percent, or 183.59 points, to 11,807.93 points.

Amid increasing pressure to control inflation, the People's Bank of China (PBOC), the central bank, announced Tuesday that it would raise benchmark one-year borrowing and lending rates by 25 basis points beginning Wednesday.

Add Your Comments:

Your Name:
Your Country:
Comment:
(English Only)
 
Please read our Terms of Service. Messages that harass, abuse or threaten others; have obscene or otherwise objectionable content; have spam, commercial or advertising content or links may be removed.

SPECIAL COVERAGE

MOST VIEWED

LATEST VIDEO

PICTURE GALLERY