Financial shares pull Shanghai index to end lower
By Ye Zhen |
November 8, 2012, Thursday
|
Print Edition
Print Edition
SHANGHAI stocks edged down yesterday as financial-related counters fell on poor earnings, while commodity shares got a boost from US President Barack Obama?s reelection win.
The Shanghai Composite Index shed 0.01 percent to 2,105.73 points.
Founder Securities Co led the decline among the financial-related stocks, falling 2.3 percent to 4.25 yuan (68 US cents), after reporting its net profit in October slumped 55 percent from September. CITIC Securities lost 1.2 percent to 11.13 yuan.
Commodity stocks on the domestic bourses rose an average 1.6 percent on hopes the US will keep low interest rates and a loose monetary policy to spur economic growth after Obama?s win, China Minzu Securities said.
The Shanghai Composite Index shed 0.01 percent to 2,105.73 points.
Founder Securities Co led the decline among the financial-related stocks, falling 2.3 percent to 4.25 yuan (68 US cents), after reporting its net profit in October slumped 55 percent from September. CITIC Securities lost 1.2 percent to 11.13 yuan.
Commodity stocks on the domestic bourses rose an average 1.6 percent on hopes the US will keep low interest rates and a loose monetary policy to spur economic growth after Obama?s win, China Minzu Securities said.
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