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China shares open 0.8% lower

(Xinhua)
Updated: 2009-01-15 10:21

Chinese share prices opened 0.8 percent lower on Thursday as jittery investors locked in profits following Wednesday's strong rebound.

Related readings:  QFIIs underperform local equities in volatile market  China Construction reignites 2009 IPO dreams  BOC in talks with RBS on share sale  Chinese shares up 1.5% in morning trade

The benchmark Shanghai Composite Index opened down 16.10 points, or 0.83 percent, to 1,912.77. The index gained 3.5 percent Wednesday on expectation of a recovery in the economy and government's plans to bolster the steel and auto sectors.

Investors remained cautious ahead of the release of more 2008 economic data next week and with sell-offs on the Wall Street, said analysts.

Overnight, the Dow Jones Industrial Average tumbled 248.42 points, or 2.94 percent, to close at 8,200.14.