Flat end to week as index dips to 3,052

By Joyce Pan | February 26, 2010, Friday |

Online Edition

SHANGHAI'S key stock index remained flat today as gains by auto makers were offset by losses among commodity producers.

The benchmark Shanghai Composite Index dipped 0.28 percent, or 8.67 points, to close at 3,051.94 points on the last trading day in February. The key index gained accumulated 2.1 percent this month. Turnover shrank to 121.5 billion yuan (US$17.9 billion) from 138.9 billion yuan. Losers outnumbered gainers 486 to 362 and 28 shares remained unchanged.

The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.11 percent to close at 1,172.33 points.

Aluminum Corp of China, the nation's biggest maker of the lightweight metal, lost 1.3 percent to 12.68 yuan. Jiangxi Copper Co decreased 1.8 percent to 35.04 yuan. Yunnan Chihong Zinc & Germanium Co retreated 1.9 percent to 22.52 yuan.

Zijin Mining Group Co, the country's largest gold producer, eased 0.9 percent to 8.52 yuan. Zhongjin Gold Corp, the second biggest by market value, dropped 0.3 percent to 49.77 yuan. Shandong Gold Mining Co fell 0.2 percent to 68.27 yuan.

Bucking the downward trend, Anhui Jianghuai Automobile Co advanced 4.1 percent to 10.63 yuan after it reported its net income skyrocketed 482 percent to 335.5 million yuan in 2009. SAIC Motor Corp jumped 2.5 percent to 22 yuan and Beiqi Foton Motor Co climbed 3.9 percent to 19.97 yuan. FAW Car Co increased 3.4 percent to 23.4 yuan.

Lenders showed mixed performances. Bank of Communications edged up 0.1 percent to 8.2 yuan. Bank of China lost 0.5 percent at 4.14 yuan. Industrial and Commercial Bank of China fell 0.2 percent to 4.87 yuan.

Finance

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Flat end to week as index dips to 3,052

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