Chinese shares open 1.25% lower on weak confidence

Special Report:Global Financial Crisis

BEIJING, Dec. 24 (Chinese media) -- Chinese shares opened 1.25 pct lower on Wednesday as investor sentiment was hurt by the smaller-than-expected interest rate cuts and an overnight Wall Street loss, dealers said.

The People's Bank of China, the central bank, on Monday cut the benchmark one-year yuan lending and deposit rates by 0.27 percentage points, effective Tuesday. The magnitude was below investors' expectations and deemed too small to buoy enough confidence.

The benchmark Shanghai Composite Index, which covers both A and B shares, edged down 1.25 percent, or 23.65 points, to 1,873.58 at the opening.

The smaller Shenzhen index was down 1.17 percent, or 81.62 points, to open at 6,871.29 points.

Chinese shares fall to three-week low after lower-than-expected rate cut

BEIJING, Dec. 23 (Chinese media) -- Chinese equities hit a three-week low on Tuesday after smaller-than-expected interest rate cuts disappointed investors.

The benchmark Shanghai Composite Index gave up 4.55 percent, or 90.53 points, to 1,897.23. The Shenzhen Component Index fell 342.21 points, or 4.69 percent, to 6,952.91.