Related News
Bank squeeze on lending weighs index down
SHANGHAI'S market fell to below 3,100 points today as banks retreated among concerns of tighter lending that may hurt banks and property sales.
The benchmark Shanghai Composite Index lost 1.09 percent, or 34.18 points, to close at 3,094.41 points. Turnover was 95.1 billion yuan (US$13.9 billion). Losers outnumbered gainers 689 to 178, and 47 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.15 percent to close at 1,148.49 points.
China Securities Journal reported today that some banks in Beijing have raised rates for first-home mortgages to 85 percent of the central bank's benchmark rates, instead of the previous 70 percent. Discounted loans were offered in 2008 to stimulate the market.
Shanghai Pudong Development Bank dropped 2.11 percent to 20.46 yuan. China Construction Bank lowered 1.83 percent to close at 5.91 yuan. Bank of Communications retreated 3.18 percent to 8.82 yuan.
Bank of China has proposed to sell up to 40 million yuan of convertible bonds to replenish its capital and is still waiting for shareholders' approval. Its shares dipped 0.48 percent to 4.14 yuan.
China Vanke Co, the biggest listed domestic real estate developer, lost 0.31 percent to 9.52 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd sank 3.56 percent to 24.36 yuan. Shanghai Shimao Co Ltd dropped 5.37 percent to 14.81 yuan.
Brokerages bucked the downward trend as China's securities regulator said it has started accepting brokerages' application for a margin-trading trial program. Haitong Securities rose 1.68 percent to 17.56 yuan. Everbright Securities added 1.02 percent to 27.60 yuan.
Metal producers showed mixed results. Zijin Mining Co edged up 0.68 percent to 8.90 yuan. Shandong Gold Mining Co added 0.97 percent to 71.58 yuan. Nanjing Yunhai Special Metals Co lost 1.72 percent to 15.45 yuan.
China Railway Group Ltd, the country's biggest construction company by total assets, said it plans to sell 6 billion yuan of domestic corporate bonds. Its shares retreated 2.45 percent to 5.96 yuan.
The benchmark Shanghai Composite Index lost 1.09 percent, or 34.18 points, to close at 3,094.41 points. Turnover was 95.1 billion yuan (US$13.9 billion). Losers outnumbered gainers 689 to 178, and 47 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.15 percent to close at 1,148.49 points.
China Securities Journal reported today that some banks in Beijing have raised rates for first-home mortgages to 85 percent of the central bank's benchmark rates, instead of the previous 70 percent. Discounted loans were offered in 2008 to stimulate the market.
Shanghai Pudong Development Bank dropped 2.11 percent to 20.46 yuan. China Construction Bank lowered 1.83 percent to close at 5.91 yuan. Bank of Communications retreated 3.18 percent to 8.82 yuan.
Bank of China has proposed to sell up to 40 million yuan of convertible bonds to replenish its capital and is still waiting for shareholders' approval. Its shares dipped 0.48 percent to 4.14 yuan.
China Vanke Co, the biggest listed domestic real estate developer, lost 0.31 percent to 9.52 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd sank 3.56 percent to 24.36 yuan. Shanghai Shimao Co Ltd dropped 5.37 percent to 14.81 yuan.
Brokerages bucked the downward trend as China's securities regulator said it has started accepting brokerages' application for a margin-trading trial program. Haitong Securities rose 1.68 percent to 17.56 yuan. Everbright Securities added 1.02 percent to 27.60 yuan.
Metal producers showed mixed results. Zijin Mining Co edged up 0.68 percent to 8.90 yuan. Shandong Gold Mining Co added 0.97 percent to 71.58 yuan. Nanjing Yunhai Special Metals Co lost 1.72 percent to 15.45 yuan.
China Railway Group Ltd, the country's biggest construction company by total assets, said it plans to sell 6 billion yuan of domestic corporate bonds. Its shares retreated 2.45 percent to 5.96 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.