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Comodity shares drag market down at midday
By Joyce Pan |
February 4, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index ended lower in the morning session, dragged down by losses of commodity producers on lower metal and crude pirces.
The benchmark Shanghai Composite Index dipped 0.52 percent, or 15.66 points, to close at 2,988.17 points. Turnover stood at 61.3 billion yuan (US$9 billion). Gainerrs outnumbered losers 486 to 368 and 43 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.2 percent to close at 1,118.82 points.
Aluminum Corp of China retreated 2 percent to 12.49 yuan. Jiangxi Copper Co decreased 2.5 percent to 34.75 yuan. Baoshan Iron & Steel Co eased 0.9 percent to 7.57 yuan. Angang Steel Co slid 2 percent to 11.66 yuan and Wuhan Iron & Steel Co was down 1.3 percent to 6.68 yuan.
PetroChina, the biggest component of the index, was oiff 0.7 percent to 12.95 yuan. Sinopec, Asia's largest oil refiner, fell 1.6 percent to 11.16 yuan.
Hotels and tourism shares bucked the downward trend before a booming travelling season in Spring Festival. Hunan Huatian Great Hotel Co surged by 10 percent daily cap to 9.38 yuan. Tibet Tourism Co soared 10 percent to 12.96 yuan. China United Travel Co advanced 7.1 percent to 7.07 yuan.
The benchmark Shanghai Composite Index dipped 0.52 percent, or 15.66 points, to close at 2,988.17 points. Turnover stood at 61.3 billion yuan (US$9 billion). Gainerrs outnumbered losers 486 to 368 and 43 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.2 percent to close at 1,118.82 points.
Aluminum Corp of China retreated 2 percent to 12.49 yuan. Jiangxi Copper Co decreased 2.5 percent to 34.75 yuan. Baoshan Iron & Steel Co eased 0.9 percent to 7.57 yuan. Angang Steel Co slid 2 percent to 11.66 yuan and Wuhan Iron & Steel Co was down 1.3 percent to 6.68 yuan.
PetroChina, the biggest component of the index, was oiff 0.7 percent to 12.95 yuan. Sinopec, Asia's largest oil refiner, fell 1.6 percent to 11.16 yuan.
Hotels and tourism shares bucked the downward trend before a booming travelling season in Spring Festival. Hunan Huatian Great Hotel Co surged by 10 percent daily cap to 9.38 yuan. Tibet Tourism Co soared 10 percent to 12.96 yuan. China United Travel Co advanced 7.1 percent to 7.07 yuan.
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