Shares fall as investors’ worries sour sentiment
Print Edition
Shanghai stocks fell yesterday amid concerns over the resumption of initial public offerings, liquidity and the economy.
The Shanghai Composite Index shed 0.15 percent, or 2.98 points, to 2,044.34.
“The market is still restrained by the resumption of initial public offerings,” Du Changchun, analyst with Northeast Securities Co, said in a note yesterday. He said that though investors may favor new listings, which resumed after more than a year of suspension, they also worry about funds being diverted from existing shares. Eight firms will take subscriptions for their IPOs this week.
Du added that investors were also unwilling to invest due to worries over liquidity and slowing economic growth.
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