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Shares fall as caution looms ahead of holiday
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SHANGHAI shares fell yesterday as investors stayed cautious ahead of the weeklong National Day holiday that starts tomorrow.
The Shanghai Composite Index shed 2.02 percent to 3.038.14 points.
More than 750 companies fell in yesterday’s trading, with insurers and technology shares leading the decline.
New China Insurance Co dropped 4.58 percent to 36.07 yuan (US$5.67), while Shanghai-based Inspur Software Co slid 6.11 percent to 19.07 yuan.
The fall coincided with the worst showing of Asian markets amid worries over China’s slowdown, Bloomberg News said.
The ongoing investigation into “illegal margin debts” also spooked investors, according to market observers.
Bocom International Holdings Co said in a note yesterday that the China Securities Regulatory Commission needs another month to clear all margin debts.
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