China Stocks Closed Down For Third Day On Anxiety EARTHQUAKE

(MahadanaNews) China stock market was closed down for the third consecutive day today due to worries over the launch of GEM and Nasdaq-style worry investors retain some shares owned during the holidays.

Benchmark Shanghai Composite Index, for A and B shares closed down 0.3%, or 8.98 points, at 2754.54. The Shenzhen Composite Index fell 1.5%, or a 14:11 points, to 937.16.

The total turnover on the Shanghai CNY76.71 billion, down from the value of thin CNY77.24 billion on Monday and its lowest level since March 16, at CNY63 billion in total turnover.

Analysts estimate the Shanghai index will be traded in the range of 2700-2800 on Wednesday, ahead of 8-day national holiday that began on Thursday, and the market is unlikely to show a clear direction until after the break.

The first group of 10 companies that will enter GEM interesting list CNY784 billion in subscriptions for the IPO, according to a company statement. The second group will enter the list for new market plans to open a subscription for the IPO on October 13.

At Essence Securities analyst Zhu Haibin said the coming long weekend also encouraged some investors to take a waiting position.

"I think Beijing will not be issued a shocking statement for the eight-day holiday, but mainland investors will not bear the risk to hold shares during this period, if something unexpected happens overseas."

Among the most active companies in trading is Citic Securities, which fell 1.1% to CNY24.41, Inner Mongolia Rare-Earth Hi-Tech, down 5.3% at CNY26.28, and China Cosco Holdings, down 2.5% at CNY11.94.