Markets fall on inflation, profit fears
13 August 2008
Markets in China continued to fall Tuesday, taking the Shanghai Composite Index (SCI) down a cumulative 10% over three days, the South China Morning Post reported. The SCI dropped 0.52% to 2,457.198 points on unusually low turnover. In Shenzhen, A-shares fell 0.62%, to 727.904. Investors were reportedly concered about inflation and falling corporate profits, particularly of securities firms hurt by low trading volumes. Haitong Securities, China's largest brokerage by market value, fell by the daily maximum of 10% to RMB17.43 (US$2.54).