Shanghai shares continue to fall but Shenzhen and ChiNext recover

Investors in the Shanghai market not buoyed by central bank's liquidity injection. 

Shanghai shares continued to stay down although the Shenzhen and the Nasdaq-style ChiNext recovered slightly.

The Shanghai Composite Index shed 0.52 percent, or 14.83 points, to close at 2,844.51, notching a tumble of 20 percent from 52-week highs, according to Dow Jones.

The smaller Shenzhen Component Index finished 0.16 percent higher at 9,339.37 points. Gains by technology counters helped the Nasdaq-style ChiNext enterprise board rise 1.71 percent to close at 1,564.92.

Huatai Securities said the key Shanghai index's performance indicated the Chinese central bank’s recent liquidity injection of 700 billion yuan (US$108 billion) did not cheer investors as the move was in line with the market’s expectations.

Shanghai-listed China National Computer Software & Technology Service Corp soared by the daily maximum cap of 10 percent to close at 18.03 yuan.

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