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Chinese shares open 2.7 pct lower after Wall Street sell-off

(Xinhua)
Updated: 2008-11-21 10:26

BEIJING -- Chinese shares opened 2.65 percent lower on Friday, as investor sentiment got hard hit by massive sell-off on Wall Street overnight sparked by fears of a deep and prolonged recession.

Related readings:  Worries over global slump drag shares down 4 percent  Shares end 1.67% down with investor confidence restoring  Chinese shares open 2 pct lower following Wall Street slump

The benchmark Shanghai Composite Index, which covers both A and B shares, fell 51.16 points, or 2.65 percent, to 1,932.60 at the opening.

Overnight the Dow Jones Industrial Average tumbled 444.99 points, or 5.56 percent, to 7,552.29, the lowest level in more than five and a half years.