Both China A markets in tumble

BOTH Chinese share markets for domestic investors fell sharply yesterday amid profit-taking after recent rises.

The Shanghai A market tumbled by 7.87 per cent, with the Credit Lyonnais A index falling 709.46 points to 8,307.75.

The Shenzhen A market similarly slid by 5.04 per cent to drive the Credit Lyonnais A index down 167.57 points to 3,154.43. Turnover was heavy at 31 million shares.

The foreign investors' exchanges were quieter. Turnover on the Shanghai B market was also high, at US$7.81 million, and the Credit Lyonnais index rose by 0.41 per cent, 4.78 points, to 1,175.33.

Only two counters, Vacuum and Wing Sung, closed down, losing three per cent and one per cent respectively.

In contrast, the Shenzhen B market had low turnover of 3.64 million yuan, and the Credit Lyonnais index ended little changed, down 0.16 per cent at 1,577.52. One counter, Properties, accounted for 56 per cent of the turnover but its share price of 15.2 yuan was unchanged from Tuesday at the close.