Chinese shares fall, tracking overnight Wall Street slump

Chinese shares fall, tracking overnight Wall Street slump
Chinese equities fell Tuesday, tracking the Wall Street slump overnight. The benchmark Shanghai Composite Index edged down 3.61 points, or 0.12 percent, to close at 2,892.7. The Shenzhen Component Index fell 65.05 points, or 0.58 percent to end at 11,125.66. Total turnover was 210.37 billion yuan ($30.8 billion), slightly shrinking from 220.66 billion yuan the previous trading day. Overnight, US stocks plunged as lower expectation of world economy hit global market. The Dow Jones fell 2.35 percent to 8,339.01. The Standard & Poor's 500 index lost 3.06 percent to 893.04. The Nasdaq shed 3.35 percent to 1,766.19. In its latest forecast report, the World Bank predicted that the world economy will shrink 2.9 percent in 2009, worse than the 1.7 percent drop in its previous forecast.