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Developers and brokers pace decline in Shanghai
By Feng Jianmin |
February 17, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell for first in six days as property developers and brokerages declined.
The Shanghai Composite Index lost 0.35 percent to close at 2,904.27 by the noon break. Turnover jumped to 102.9 billion yuan (US$15.6 billion) from yesterday morning's 82 billion yuan.
Property developers extended previous losses after Beijing stepped up more stringent curbs on home purchases by non-local residents.
China Vanke, China's largest property developer, fell 2.2 percent to 8.34 yuan. Poly Real Estate Co, the second largest developer, dropped 3 percent to 12.92 yuan.
Brokerages led the decliners after reports showed that revenue from all the 15 listed mainland brokerages fell 69 percent in January from last month while net profits plunged nearly 77 percent.
GF Securities dropped 3.1 percent to 47.25 yuan. CITIC Securities fell 1.8 percent to 13.74 yuan.
Copper producers dropped after copper prices fell. Jiangxi Copper Co went down 2.5 percent to 42.68 yuan. Yunnan Copper Co was down 2.6 percent to 27.54 yuan.
The Shanghai Composite Index lost 0.35 percent to close at 2,904.27 by the noon break. Turnover jumped to 102.9 billion yuan (US$15.6 billion) from yesterday morning's 82 billion yuan.
Property developers extended previous losses after Beijing stepped up more stringent curbs on home purchases by non-local residents.
China Vanke, China's largest property developer, fell 2.2 percent to 8.34 yuan. Poly Real Estate Co, the second largest developer, dropped 3 percent to 12.92 yuan.
Brokerages led the decliners after reports showed that revenue from all the 15 listed mainland brokerages fell 69 percent in January from last month while net profits plunged nearly 77 percent.
GF Securities dropped 3.1 percent to 47.25 yuan. CITIC Securities fell 1.8 percent to 13.74 yuan.
Copper producers dropped after copper prices fell. Jiangxi Copper Co went down 2.5 percent to 42.68 yuan. Yunnan Copper Co was down 2.6 percent to 27.54 yuan.
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