China shares have worst day in two weeks, oil majors weak

HONG KONG Thu Nov 8, 2012 2:11am EST

Related Topics

HONG KONG Nov 8 (Reuters) - Chinese shares fell the most in almost two weeks on Thursday, tracking an Asia-wide drop in riskier assets, with energy stocks the biggest losers after oil prices dived 4 percent overnight.

The CSI300 Index of the top Shanghai and Shenzhen listings closed down 1.8 percent at 2,245.4, suffering a fourth-straight loss. The Shanghai Composite Index lost 1.6 percent.

Thursday's losses were the worst since Oct. 26.

The fall came as Chinese President Hu Jintao vowed reforms to make the currency and interest more market-based, boost overseas investments and plough more state funds into industry as part of plans to keep GDP on track to double in size by 2020, in remarks prepared for delivery at the Communist Party Congress meeting.

(Reporting by Clement Tan; Editing by Sanjeev Miglani)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.