AROUND THE WORLD'S MARKETS: PEKING

SHARES SLUMPED as rumours that Prime Minister Zhu Rongji would resign reached mainland markets. In spite of official denials, the A share index of shares for domestic investors in Shenzhen fell 8 per cent to 499.19.

The introduction of a new securities law also encouraged rumours of state plans to cool speculative demands for shares. The B share market in Hong Kong dollars but the B share market in Shanghai fell 7.9 per cent, and the A share index dropped 7.6 per cent.

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