Chinese shares open sharply lower after interest rate rise

The composite index of Shanghai Stock Exchange slumped 26.9 points, or 1.68 percent, to open at 1,565.457 points on Monday morning.

This is the first trading day after the central bank announced on last Friday that it will raise the one-year benchmark interest rate by 0.27 percent.

The composite index of another bourse in China, the Shenzhen Stock Exchange, also went down 78.99 points to open at 3,835.825 points on Monday.

Source: Xinhua