Cut in bank ratio fails to boost key index
By Hu Xiaocen |
May 15, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI stocks yesterday fell to the lowest in three weeks as investors speculated a cut in banks' reserve requirement ratios won't be enough to stem an economic slowdown.
The Shanghai Composite Index lost 0.6 percent to end at 2,380.73 points, the lowest close since April 19.
The central bank announced on Saturday a reserve ratio cut of 0.5 percentage point for the third time in six months, to be effective on Friday. The move is expected to release 420 billion yuan (US$67 billion) for lending to bolster the nation's slowing economy.
Analysts said the long-awaited move has limited impact on the stock market because investors have been digesting the expected easing since PBOC Governor Zhou Xiaochuan said in March that China has "plenty room" to cut the ratio.
Meanwhile, the weak credit demand amid China's slowing export growth and industrial output in April hit banks.
China Construction Bank and the Agricultural Bank of China both fell 1.5 percent to 4.61 yuan and 2.69 yuan.
The Shanghai Composite Index lost 0.6 percent to end at 2,380.73 points, the lowest close since April 19.
The central bank announced on Saturday a reserve ratio cut of 0.5 percentage point for the third time in six months, to be effective on Friday. The move is expected to release 420 billion yuan (US$67 billion) for lending to bolster the nation's slowing economy.
Analysts said the long-awaited move has limited impact on the stock market because investors have been digesting the expected easing since PBOC Governor Zhou Xiaochuan said in March that China has "plenty room" to cut the ratio.
Meanwhile, the weak credit demand amid China's slowing export growth and industrial output in April hit banks.
China Construction Bank and the Agricultural Bank of China both fell 1.5 percent to 4.61 yuan and 2.69 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
