China shares down 0.23 percent in morning trade

An investor looks at the stock price monitor at a private securities company Thursday, Dec. 19, 2013, in Shanghai, China. AP FILE PHOTO

SHANGHAI – Chinese stocks were down 0.23 percent in morning trade on Tuesday, the last trading day of the year, on worries over a share glut as China moves to resume initial public offerings, dealers said.

The benchmark Shanghai Composite Index slipped 4.73 points to 2,092.80.

China’s stock regulator has granted approvals to five companies for IPOs after a more-than-one-year suspension, state media reported.