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Chinese shares sink almost 4% on weak financial sector

(Xinhua)
Updated: 2009-02-26 15:32

Chinese share prices plunged 3.87 percent Thursday as financial sector led the retreat in the late trade.

The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher on government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2121.52 points in the afternoon session as bank shares' weak performance put a damper on the market.

The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.9 points, down 463.76 points, or 5.63 percent.

Total turnover was 198.52 billion yuan ($29.07 billion), down from 209.05 billion yuan on Wednesday.