Brokerages, property firms dent shares
SHANGHAI stocks declined yesterday as brokerages dropped on regulatory downgrades while property developers decreased after data showed fewer cities posted month-on-month rises in new home prices.
The Shanghai Composite Index lost 0.35 percent to end at 3,043.56 points. The market has rebounded more than 7 percent since mid-June.
Brokerages slumped after China’s top securities regulator last Friday downgraded the annual regulatory ratings of a number of key securities firms for violating regulations.
CITIC Securities, Haitong Securities, Guosen Securities, GF Securities, Huatai Securities and Industrial Securities were all downgraded from AA to BBB, which would curb their capability for riskier business.
CITIC Securities fell 1.8 percent while Haitong Securities lost 2.1 percent yesterday.
Property developers also fell after data from the National Bureau of Statistics showed that new home prices in 55 of 70 large and medium-sized cities rose month on month in June, five fewer than the previous month.
Tianjin Realty Development (Group) Co dropped 2.5 percent, and Zhejiang Guangsha Co declined 1.9 percent.
- 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.