Global crisis worries pull index lower
By Hu Xiaocen |
June 15, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI'S stock market fell the most in more than a week yesterday as material producers tumbled ahead of Sunday's Greek election on concerns the global crisis will damp demand.
The Shanghai Composite Index lost 0.99 percent to 2,295.95 points, the biggest decline since June 4.
"The market is still digesting investors' pessimistic sentiment," said He Xu, analyst at Goldstate Securities. "The recovery will not arrive until the Greek elections deliver good results."
He recommended buying blue chip stocks as they are undervalued in general at the moment, as did the China Securities Regulatory Commission.
Moody's has cut Spain's rating to reflect the rising likelihood of a Greek exit from the eurozone. Retail sales in the US fell for a second month in May, the US Commerce Department figures showed on Wednesday.
Cement firms were among the worst performers. Anhui Conch Cement Co, China's biggest cement producer, lost 1.5 percent to 15.87 yuan (US$2.49). Huaxin Cement Co tumbled 2.7 percent to 14.31 yuan.
The Shanghai Composite Index lost 0.99 percent to 2,295.95 points, the biggest decline since June 4.
"The market is still digesting investors' pessimistic sentiment," said He Xu, analyst at Goldstate Securities. "The recovery will not arrive until the Greek elections deliver good results."
He recommended buying blue chip stocks as they are undervalued in general at the moment, as did the China Securities Regulatory Commission.
Moody's has cut Spain's rating to reflect the rising likelihood of a Greek exit from the eurozone. Retail sales in the US fell for a second month in May, the US Commerce Department figures showed on Wednesday.
Cement firms were among the worst performers. Anhui Conch Cement Co, China's biggest cement producer, lost 1.5 percent to 15.87 yuan (US$2.49). Huaxin Cement Co tumbled 2.7 percent to 14.31 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
