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WARSAW (AFX) - Polish shares closed to their second-lowest level ever, following the downward trend on all emerging markets, the Puls Biznesu newswire reported.
The WIG20 index dived 5.57 pct, or 168.84 points, the largest fall in the history excluding October 28, 1997 when the index lost 211 points.
Dariusz Nawrot, an analyst with Poland's BPH bank, said the fall on the WIG-20 was an effect of sales on foreign markets, especially emerging markets, including those in Turkey and Hungary.
'Poland is part of the emerging markets and because investors are getting rid (of their shares) on other such markets they're also selling' in Poland, Nawrot said, quoted by Poland's PAP news agency.
Copper producer KGHM led the blue chip fallers, dropping 9.5 pct, with TP Telecom down 8 pct and oil firm PK Orlen down 6.3 pct.
The volume of trade reached 2.146 bln zloty, the third highest result ever.
The WIG20 index has fallen 14.5 pct since its peak of 3,347.83 on May 11. newsdesk@afxnews.com joy COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited