Shanghai shares close sharply lower on resumption in fund-raising

B-share prices closed sharply lower, as news of resumed fund-raising activities further undermined confidence already weakened by concerns over the government crackdown on market irregularities, dealers said. B-shares followed A-shares lower in minimal trade, with investors remaining cautious amid expectations that continued A-share declines will keep B-share prices under heavy pressure, they said. The B-share index closed 2.21 points or 1.44 pct lower at 151.57 on turnover of 22.72 mln usd after trading between 154.02 and 150.57.

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