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Chinese shares fall on corporate profit concern

(Xinhua)
Updated: 2008-09-01 16:11

Chinese equities fell on Monday as the hopes of investors for market-boosting measures over the weekend failed to materialize and concerns about listed companies' profitability increased.

The Shanghai Composite Index was down 72.23 points, or 3.01 percent, to 2,325.14. The key index has tumbled more than 55 percent this year.

In Shenzhen, the market shed 3.99 percent, or 319.01 points, to close at 7,685.24. Aggregate turnover shrank to 43.3 billion yuan ($6.34 billion) from 56.7 billion yuan the previous trading day.

Losses outnumbered gains by 673-141 in Shanghai and 613-74 in Shenzhen.