BEIJING, Feb. 1 (Xinhua) -- Chinese shares opened lower on Thursday after tumbling neary 5 percent the previous day amid market worries over high stock valuations.

    The benchmark Shanghai Composite Index opened at 2,744.81 points, down by 41.52 points or 1.49 percent.

    The index, which tracks both yuan-denominated A shares and hard-currency B shares traded on the Shanghai Stock Exchange, closed at 2,786.34 points on Wednesday, down 144.22 points from the previous close.

Shares plummet in 'overvalued' market

    BEIJING, Feb.1 -- Shares in Shanghai tumbled the most in more than six months Wednesday as a senior government official said the market is "overvalued."

    The comments were widely interpreted as meaning that more and stricter state measures may be introduced to cool a burgeoning market that may be falsely inflated.