BEIJING, Aug. 15 (Xinhua) — China’s securities supervisor said on Friday that the heavy slump on the country’s equities market was caused by a combination of factors, both domestic and foreign.

    These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.

    The unsound mechanism and structure of the country’s equities market worsened the situation and widened the range of the correction, he said.

    The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.

    However, the trend of a steady and healthy performance would remain unchanged, he said, as the country’s economy maintained steady and fast growth.

    CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.

    CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.

    The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.

    From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.

    The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

    PHNOM PENH, Aug. 16 (Xinhua) — Cambodian and Thai troops have commenced to withdraw from the Keo Sikha Kiri Svara Pagoda near the Preah Vihear Temple and the surrounding area in the eponymous Cambodian province, said a government official here Saturday.

    Both sides had agreed to redeploy the troops like prior to July15, the troops were therefore withdrawn and the month-long military face-off at the border area was becoming less tense, Khieu Kanharith, Cambodian Information Minister and government spokesman, told Xinhua.

    "We agree that we don’t use the word ‘withdraw.’ We have to say that we ‘redeploy’ the troops like before July 15, because it is a reasonable word," he added.

    In addition, a bilateral foreign ministers’ meeting will be held on Aug. 18 in Hua Hin province of Thailand to solve the remaining matters of a peaceful resolution, he said.

    Meanwhile, Bun Leng, Cambodian village chief at the Preah Vihear area told Xinhua by phone that the Thai troops began to withdraw from the pagoda in late evening Friday.

    "Thai troops are leaving in small groups one after another from our land to their land," he said.

    The situation was relieving near the Preah Vihear Temple, there would be no troops soon in the area, and the local people could do their business as normal again, he added.

    However, Meng Ly, police chief of neighboring Otdar Meanchey province of Cambodia, told Xinhua that Thai troops were still deployed at the Tamone Toch and Tamone Thom temples in the province and no sign of withdrawal could be seen.

    "The situation is only becoming better, as Thai troops allowed Cambodian civilians to visit the two temples in small groups," he added.

    On July 15, Thai troops went into the border area to fetch three trespassers who had intended to claim Thai sovereignty over the Preah Vihear Temple. The troops stationed there ever since, thus triggering the military stalemate.

    The same day, Thai troops occupied the Keo Sikha Kiri Svara Pagoda, which is situated on the only way leading to the Preah Vihear Temple.

    In the following days, both sides gradually increased their military personnel to a thousand strong at the border area to show their determination for territorial sovereignty.

    On July 28, foreign ministers from Cambodia and Thailand held a meeting in Siem Reap province and agreed to mull the possibility of evacuating troops from the border.

    On Aug. 3, Thai troops entered the Tamone Toch and Tamone Thom temples, thus aggravating the standoff.

    The Preah Vihear Temple straddles the Cambodian-Thai border atop the Dangrek Mountain and was listed as a World Heritage Site on July 7 by UNESCO’s World Heritage Committee.

    In 1962, the International Court of Justice decided that the 11-century temple and the land around belongs to Cambodia, which rankled the Thais and has led to continuous disputes in late years.

    "As prime minister of the Kingdom of Cambodia, I confirm that the government has no plan to reshuffle your positions as some gossip had alleged," he said.

    "I also request you all to keep on working as normal for the benefits of the people and the nation," he said.

    "We will find the rumor mongers and punish them by law," he said, adding that the rumors have spread widely and therefore created unrest among senior government employees and police officers in recent weeks.

    Cambodia just concluded its fourth general election at the end of July. The official results of the polling are expected to become public later this month and a new government to be established in September.