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China shares open 1% lower after Wall Street loss

(Xinhua)
Updated: 2009-01-13 10:36

Chinese share prices opened one percent lower on Tuesday, tracking overnight decline on the Wall Street and amid concerns over grim economic data.

Related readings:  Most stocks rise, financials depress index  China shares open 0.4% lower  Chinese shares down slightly led by heavyweights  Stock index rises 1.42%, led by power shares

The benchmark Shanghai Composite Index fell 19.48 points, or 1.03 percent, to 1,880.87. It edged down 4.51 points, or 0.24 percent, to finish at 1,900.35 on Monday.

Exports dropped 2.8 percent year-on-year in December, declining for a second month in a row for the first time in a decade, Tuesday's China Daily cited Custom source as saying.

The trade data is expected to be officially released as early as today.

Overnight, the Dow Jones Industrial Average slumped 125.21 points, or 1.46 percent, to 8,473.97.