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Chinese shares open lower despite overnight Wall Street gains

Chinese shares open lower despite overnight Wall Street gains

Write: Kevin [2011-05-20]
Chinese equities opened lower Friday despite gains on the Wall Street overnight.
The benchmark Shanghai Composite Index shed 0.14 percent to open at 2,556.6 points. The Shenzhen Component Index lost 0.05 percent to 10,156.96 points at the opening.
Overnight, the U.S. stocks ended higher as a successful bond auction in Spain helped soothe concerns over Europe.
The Dow Jones Industrial Average rose 24.72 points, or 0.24 percent, at 10,434.17. The Standard & Poor's 500 index edged up 1.43, or 0.13 percent, to 1,116.04 and the Nasdaq inched up 1.23, or 0.05 percent, to 2, 307.16.