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Chinese shares undercut as world crude prices rise
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Chinese shares edged down on Wednesday, falling for a second consecutive day, as higher world crude prices hit airline and oil company stocks.

The Shanghai Composite Index dropped 0.34 percent, or 7.94 points, to 2,342.15. In Shenzhen, the market fell 0.76 percent, or 60.2 points, to close at 7,827.16.

Aggregate turnover reached 47.3 billion yuan (6.9 billion US dollars), almost unchanged from 47.2 billion yuan on Tuesday.

Nearly half of the stocks dropped on the two bourses. In Shanghai, 459 stocks rose while 391 fell; in Shenzhen, 340 issues rose while 368 fell.

(Xinhua News Agency August 27, 2008)

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