Disappointing trade figures for April shake investors' sentiment
By Ding Yining |
May 11, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI stocks ended flat yesterday as financial counters fell after the release of China's disappointing trade data for April.
The Shanghai Composite Index edged up 0.07 percent to 2,410.23 points.
China's exports rose 4.9 percent from a year earlier last month to US$163.2 billion, down from March's 8.9 percent growth, the General Administration of Customs said. The growth in imports slowed sharply to 0.3 percent in April from 5.3 percent in March.
"The market sentiment was weak after the release of sluggish trade figures, and investors are waiting to see how monetary policy will shift after Friday's release of inflation figures," GF Securities wrote.
The Industrial and Commercial Bank of China Ltd, the nation's largest lender, added 0.46 percent to 4.40 yuan after getting approval from the US Federal Reserve to purchase a controlling stake in the US unit of Bank of East Asia Ltd. China Minsheng Banking Corp lost 1.04 percent to end at 6.65 yuan.
The Shanghai Composite Index edged up 0.07 percent to 2,410.23 points.
China's exports rose 4.9 percent from a year earlier last month to US$163.2 billion, down from March's 8.9 percent growth, the General Administration of Customs said. The growth in imports slowed sharply to 0.3 percent in April from 5.3 percent in March.
"The market sentiment was weak after the release of sluggish trade figures, and investors are waiting to see how monetary policy will shift after Friday's release of inflation figures," GF Securities wrote.
The Industrial and Commercial Bank of China Ltd, the nation's largest lender, added 0.46 percent to 4.40 yuan after getting approval from the US Federal Reserve to purchase a controlling stake in the US unit of Bank of East Asia Ltd. China Minsheng Banking Corp lost 1.04 percent to end at 6.65 yuan.
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