Chinese shares drop to 6-month low on Tuesday
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Chinese equities fell to six-month low Tuesday with the benchmark Shanghai Composite Index down 2.07 percent on the back of falls in energy and banking stocks.
The benchmark Shanghai Stock Exchange ended at 2,907.93 points, down 61.58 points while the Shenzhen Component Index ended at 11,355.37 points, down 247.27 points, or 2.13 percent.
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![A stockholder falls asleep in a stock exchange in Shanghai on Tuesday. Chinese equities fell to six-month low Tuesday with the benchmark Shanghai Composite Index down 2.07 percent on the back of falls in energy and banking stocks. [CFP photo]](http://images.china.cn/attachement/jpg/site1007/20100428/001372a9a93f0d41e6c245.jpg "A stockholder falls asleep in a stock exchange in Shanghai on Tuesday. Chinese equities fell to six-month low Tuesday with the benchmark Shanghai Composite Index down 2.07 percent on the back of falls in energy and banking stocks. [CFP photo]")
Total turnover increased to 238.72 billion yuan (34.95 billion U.S. dollars) from 218.52 billion yuan the previous trading day.
Losers outnumbered gainers by 750 to 118 in Shanghai and 780 to 135 in Shenzhen.
PetroChina, the nation's biggest gas producer, slid 2.3 percent to 11.92 yuan. Sinopec, China's largest oil refiner, shed 2.44 percent to 9.99 yuan per share. China Shenhua Energy, the country's largest coal producer, dropped 2.99 percent to 26.57 yuan per share.
Banking stocks extended their losses from the previous trading day, hit by a report China Construction Bank plans to raise funds. China Construction Bank eased 0.78 percent to 5.1 yuan per share.
Century Weekly reported Monday China Construction Bank's board may consider raising up to 70 billion yuan through a share issue at its board meeting Thursday.
Industrial and Commercial Bank of China, the nation's biggest lender, fell 1.55 percent to 4.46 yuan per share. China CITIC Bank slumped 3.44 percent to 5.89 yuan per share.
Brokerages also posted big losses. China Merchants Securities declined 4.55 percent to 25.19 yuan per share. Guojin Securities plunged 4.27 percent to 17.5 yuan per share and Northeast Securities slipped 4.89 percent to 28.4 yuan.
Real estate developers fell again, as developers headquartered in first-tier Chinese cities dropped more than 1 percent. China Vanke Co., the country's largest property developer, retreated 1.28 percent to 7.7 yuan per share, even after it said Monday net profit jumped 46.54 percent in the first quarter from a year earlier. Poly Real Estate, the second largest developer, fell 1.17 percent to 12.69 yuan per share, even as it announced a first quarter profit rise of 66.26 percent year on year.
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