China shares down 0.74% in morning trade

Telequote, (20/6) -- Chinese shares were down 0.74 percent in early trading on Thursday after the government ruled out the possibility of monetary easing in the short term, dealers said. The benchmark Shanghai Composite Index fell 15.82 points to 2,127.63. Premier Li Keqiang said Wednesday at a meeting that China would stick to prudent monetary policy, state media reported, dashing hopes of a cut in interest rates or banks' reserve requirements to boost the domestic economy.