China shares fall to 4-year low

China’s primary share index closed Tuesday at its lowest value in roughly four years, signaling falling investor confidence in the country’s public equity markets, The Wall Street Journal reported. The Shanghai Composite Index closed on Tuesday at its lowest level since January 23, 2009, at 1991.17, down 1.3%, or 26.29 points. The level also fell below the psychologically important 2000 mark, further denting investor confidence. Deals on Tuesday totaled US$6.28 billion (RMB39.09 billion), a sharp fall from the 2012 daily average of US$10.69 billion. The share index has fallen 9.5% from January to November. The fall contrasted with other economic indicators that appear to mark an upturn in the Chinese economy. Investors are waiting for government policy signals ahead of the annual senior leadership meeting in December, which will steer the direction of the Chinese economy for the following year, according to Deng Wenyuan, an analyst from Soochow Securities (601555.SH).