Anxiety over IPOs spooks investors
Print Edition
SHANGHAI stocks fell yesterday, weighed by growing anxiety over the upcoming initial public offerings and news that state-owned Central Huijin Investment Ltd has been cashing in on market gains.
The Shanghai Composite Index shed 1.59 percent to end at 4,308.69 points. The index gained 2.44 percent for the week, the first rise in three weeks, after the central bank cut interest rates last weekend to bolster economy.
Shenwan Hongyuan Securities said yesterday the market was consolidating ahead of the IPOs.
Haitong Securities said the 20 IPOs that would open for subscriptions next week will lock up around 3 trillion yuan (US$483.54 billion) in funds.
The China Securities Regulatory Commission on Wednesday also approved the 16.3-billion-yuan IPO of China National Nuclear Power Corp, the largest offering in five years.
Investors were also spooked after China Fund News said the Central Huijin Investment, the domestic investment arm of China’s sovereign wealth fund, has cashed 20 billion yuan worth of gains on April 17 and 22.
Shanghai Pudong Development Bank Co Ltd fell 1.24 percent to 16.78 yuan. CITIC Securities, China’s largest brokerage, dropped 3.4 percent to 31.98 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
