Decline in FDI to China hits key index
By Ye Zhen |
October 20, 2012, Saturday
|
Print Edition
Print Edition
SHANGHAI stocks edged down yesterday after foreign investment inflows to China fell for the fourth month in September, creating mixed signals about the health of the domestic economy.
The Shanghai Composite Index shed 0.16 percent to 2,128.3 points.
For the week, the index added 1.1 percent to notch a third weekly gain.
Foreign direct investment in China fell 6.8 percent year on year in September to US$8.43 billion, extending the decline to a fourth straight month, the Ministry of Commerce said yesterday. But the ministry said the decline has slowed in general.
The dismal FDI data cast a shadow on the outlook for the world's second-largest economy after economic indicators released on Thursday showed signs of recovery. Observers are hoping for an economic rebound in the fourth quarter.
Huaneng Power International Inc, the listed unit of China's largest power group, dropped 1.5 percent to 5.98 yuan (96 US cents) after the country's power output fell to the lowest level in four months in September.
The Shanghai Composite Index shed 0.16 percent to 2,128.3 points.
For the week, the index added 1.1 percent to notch a third weekly gain.
Foreign direct investment in China fell 6.8 percent year on year in September to US$8.43 billion, extending the decline to a fourth straight month, the Ministry of Commerce said yesterday. But the ministry said the decline has slowed in general.
The dismal FDI data cast a shadow on the outlook for the world's second-largest economy after economic indicators released on Thursday showed signs of recovery. Observers are hoping for an economic rebound in the fourth quarter.
Huaneng Power International Inc, the listed unit of China's largest power group, dropped 1.5 percent to 5.98 yuan (96 US cents) after the country's power output fell to the lowest level in four months in September.
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