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Cement makers drop to lead Shanghai gauge down
By Lydia Chen |
March 8, 2011, Tuesday
|
Online Edition
Online Edition
SHANGHAI stock index eased from a nearly four-month high this morning with cement makers reversing their previous strong performance to lead the market down.
The Shanghai Composite Index shed 0.40 percent to 2,984.14. Turnover declined to 97.84 billion (US$14.89 billion) from yesterday morning's 114.65 billion.
A gauge of cement makers in the CSI 300 lost nearly 3 percent this morning. The sector was one of the leaders amid the market's latest rebound after the government announced a massive affordable housing plan across the country.
Huaxin Cement Co lost 3.05 percent to 43.54 yuan. Taiyuan Lionhead Cement Co shrank 2.66 percent to 12.06 yuan.
Paper makers, however, outperformed the market in the morning session. Henan Yinge Industrial Investment Holding Co rallied 8.07 percent to 12.05 yuan. Yueyang Paper Co climbed 1.93 percent to 11.10 yuan.
The Shanghai Composite Index shed 0.40 percent to 2,984.14. Turnover declined to 97.84 billion (US$14.89 billion) from yesterday morning's 114.65 billion.
A gauge of cement makers in the CSI 300 lost nearly 3 percent this morning. The sector was one of the leaders amid the market's latest rebound after the government announced a massive affordable housing plan across the country.
Huaxin Cement Co lost 3.05 percent to 43.54 yuan. Taiyuan Lionhead Cement Co shrank 2.66 percent to 12.06 yuan.
Paper makers, however, outperformed the market in the morning session. Henan Yinge Industrial Investment Holding Co rallied 8.07 percent to 12.05 yuan. Yueyang Paper Co climbed 1.93 percent to 11.10 yuan.
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