China shares head south on small-cap sell-off

Newswire

SHANGHAI, Jan 28 (Reuters) - China's shares extended their morning losses to close 1 percent down on Friday, as lingering worries over lower-priced domestic IPOs drove investors to dump small-cap counters. The benchmark Shanghai composite index ended at 1,213.673 points, its lowest point in over half a decade. Investors, dismayed after four straight days of losses, dumped small caps such as engine maker Linhai Co. Ltd. and software developer HIT Shouchuang Technology Co. . Both dived ...

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