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Banks, developers drag down market in morning
By Ding Yining |
July 6, 2011, Wednesday
|
Online Edition
Online Edition
THE Shanghai market ended lower in the morning session with after gaining for two days as banks and property sectors dragged down the index.
The benchmark Shanghai Composite Index lowered 0.79 percent, or 22.30 points, to 2,794.05. Turnover was 65.4 billion yuan(US$10 billion).
China's bank landing may stand at 6.67 trillion yuan this year, which is below the 7 trillion yuan to 7.5 trillion yuan target, China Securities Journal reported today, citing an unidentified securities company official.
Banks ended lower. Industrial & Commercial Bank of China, the nation's biggest lender, lost 1.59 percent to 4.34 yuan. Shanghai Pudong Development Bank retreated 1.99 percent to 9.85 yuan. Agricultural Bank of China was down 1.46 percent to 2.70 yuan.
Metal producers showed mixed results. Yunnan Copper Co advanced 2.64 percent to 22.90 yuan. Zijin Mining Co lost 1.49 percent to 5.28 yuan. Yunnan Tin Co Ltd jumped 2.02 percent to 30.88 yuan.
Property developers were among the gainers. Shanghai Shimao Co Ltd lost 1.86 percent to 14.77 yuan. Poly Real Estate Group sank 2.21 percent to 11.08 yuan.
The benchmark Shanghai Composite Index lowered 0.79 percent, or 22.30 points, to 2,794.05. Turnover was 65.4 billion yuan(US$10 billion).
China's bank landing may stand at 6.67 trillion yuan this year, which is below the 7 trillion yuan to 7.5 trillion yuan target, China Securities Journal reported today, citing an unidentified securities company official.
Banks ended lower. Industrial & Commercial Bank of China, the nation's biggest lender, lost 1.59 percent to 4.34 yuan. Shanghai Pudong Development Bank retreated 1.99 percent to 9.85 yuan. Agricultural Bank of China was down 1.46 percent to 2.70 yuan.
Metal producers showed mixed results. Yunnan Copper Co advanced 2.64 percent to 22.90 yuan. Zijin Mining Co lost 1.49 percent to 5.28 yuan. Yunnan Tin Co Ltd jumped 2.02 percent to 30.88 yuan.
Property developers were among the gainers. Shanghai Shimao Co Ltd lost 1.86 percent to 14.77 yuan. Poly Real Estate Group sank 2.21 percent to 11.08 yuan.
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