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Developers and banks drop in the morning
By Feng Jianmin |
September 3, 2010, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell in the morning session led by property developers and banks.
The benchmark Shanghai Composite dipped 0.46 percent, or 12.28 points, to close at 2,643.5 points. Turnover grew to 81 billion yuan (US$ 11.9 billion) from yesterday morning's 72 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was almost unchanged at 1,173.13 points.
Property developers dropped after China's top statistics bureau said that it would invest home vacancy during the population census starting this November.
China Vanke dipped 0.23 percent to 8.55 yuan after reporting record high sales of 12 billion yuan in August, 150 percent higher than last year. China Merchants Property Development Co fell 1.11 percent to 18.72 yuan. Poly Real Estate Co trailed 1.44 percent to 11.66 yuan.
Banks were weak on concerns about bad loans after China's four state-owned banks reported an increase in special-mention loans, potentially weak loans or assets presenting an unwarranted credit risk, in the second half.
Bank of China retreated 0.89 percent to 3.34 yuan. Industrial and Commercial Bank of China dipped 0.24 percent to 4.09 yuan. China Construction Bank fell 0.64 percent to 4.65 yuan. Agricultural Bank of China edged down 0.37 percent to 2.68 yuan.
Car producers extended previous gains on strong sales prospect in the next two months. SAIC Motor Co, China's largest car maker advanced 2.46 percent to 17.93 yuan. FAW Car Co hiked climbed 3.87 to 19.07 yuan. DongFeng Automobile Co went up 3.26 percent to 6.01 yuan.
The benchmark Shanghai Composite dipped 0.46 percent, or 12.28 points, to close at 2,643.5 points. Turnover grew to 81 billion yuan (US$ 11.9 billion) from yesterday morning's 72 billion yuan.
The Shenzhen Composite Index, which tracks the smaller domestic market, was almost unchanged at 1,173.13 points.
Property developers dropped after China's top statistics bureau said that it would invest home vacancy during the population census starting this November.
China Vanke dipped 0.23 percent to 8.55 yuan after reporting record high sales of 12 billion yuan in August, 150 percent higher than last year. China Merchants Property Development Co fell 1.11 percent to 18.72 yuan. Poly Real Estate Co trailed 1.44 percent to 11.66 yuan.
Banks were weak on concerns about bad loans after China's four state-owned banks reported an increase in special-mention loans, potentially weak loans or assets presenting an unwarranted credit risk, in the second half.
Bank of China retreated 0.89 percent to 3.34 yuan. Industrial and Commercial Bank of China dipped 0.24 percent to 4.09 yuan. China Construction Bank fell 0.64 percent to 4.65 yuan. Agricultural Bank of China edged down 0.37 percent to 2.68 yuan.
Car producers extended previous gains on strong sales prospect in the next two months. SAIC Motor Co, China's largest car maker advanced 2.46 percent to 17.93 yuan. FAW Car Co hiked climbed 3.87 to 19.07 yuan. DongFeng Automobile Co went up 3.26 percent to 6.01 yuan.
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