'Weak' debut for China rail firm

China Railway Construction built the world's highest railway in Tibet

Shares in China Railway Construction rose by a smaller-than-expected 28% on their debut in Shanghai.

While the rise would be impressive anywhere else, it has not been unusual to see Chinese shares doubling on their first day in recent years.

The firm's bigger rival China Railway Group jumped 69% on its first day of trading in December.

Railway Construction's public offering raised $5.4bn (£2.7bn), and will make its Hong Kong debut on Wednesday.

China Railway Construction built the world's highest railway in Tibet.

Analysts said that the weak first trading day might deter other companies that are considering new share offerings.

China Pacific Insurance is reported to have delayed its $4bn share sale in Hong Kong because of poor investor sentiment.

China's benchmark Shanghai Composite Index has fallen 15% since the beginning of December.