Tight Liquidity, Weak Resources Push Shanghai Index Down

Compiled by staff

(.com.cn) Chinese shares swung lower on Oct. 12 as resource companies retreated on falling commodities futures and subscriptions for new shares drained funds from the market.

The official Shanghai Securities News reported that 18 companies to be listed on ChiNext, the Nasdaq-style board expected to be launched in Shenzhen in late October, will open subscriptions starting Oct. 13, tying up about 1.6 trillion yuan.