RealNews

China shares fall as stimulus plan optimism wanes

Chinese shares fell Tuesday as optimism about the government’s multibillion dollar stimulus package gave way to renewed caution about the economy and profit-taking, with losses led by financial stocks and other heavyweights. The benchmark Shanghai Composite Index closed down 1.7 percent, or 31.19 points, to 1843.61 in thin trading. The Shenzhen Composite Index for China’s smaller second exchange dropped 0.6 percent to 494.54. “The package encouraged pessimistic investors yesterday, but it usually at least takes three months for policies to be implemented. And anything could happen during the period,” said Xu Zhiyuan, analyst for Capital Edge Investment & Management. “Investors preferred to pull out and watch the situation more after getting in.” Full Story

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