CHINA Chinese shares open lower tracking overseas market rout


Chinese shares open lower tracking overseas market rout


11:00, February 09, 2018

(File Photo)

China's major stock indices dropped in the morning session on Friday, after Wall Street saw the Dow Jones industrials plunged more than 1,000 points Thursday.

The benchmark Shanghai Composite Index fell 2.73 percent to open at 3,172.85 points, while the smaller shenzhen Component Index opened 2.66 percent lower at 10,096.47 points.

The Shanghai SE 50 Index, which tracks actively traded industry leaders, dipped 3 percent to open at 2857.43.

Analysts attributed this to tumbles in overseas stock markets, as the Dow Jones industrial average plunged more than 1,000 points, 10 percent below its record-high two weeks ago.

Coal and airline industries lost, with China Shenhua Energy and China Souther Airlines slumping by over 5 percent.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, shed 2.62 percent to open at 1,598.48 points.

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