Chinese Shares Drop on Year's Last Trading Day

Chinese share prices closed lower on Friday with the benchmark Shanghai Composite Index dropping 0.89 percent, or 47.3 points, to close at 5,261.56 points.

The index was pulled down by the international market on the last trading day of 2007 after gaining more than 470 points since Dec. 18.

The Shenzhen Component Index on the smaller Shenzhen Stock Exchange ended at 17,700.6. points, down 96.6 points, or 0.54 percent.

The Hushen 300 Index, which accounts for 60 percent of the nation's stock market value, dropped 0.55 percent, to 5,338.27 points.