Shanghai sharply lower on technical factors/composite near 1,500

A- and B-share prices closed sharply lower after extending their losses during the second session as investors grew more concerned that the market could break below a key support level at 1,500 points on the composite index, dealers said.

The composite A- and B-share index closed 24.29 points or 1.57% lower at 1,513.09 on turnover of 3.49bn yuan after trading to a high of 1,538.78 and a low of 1,511.40.