Related News
Gloomy outlook weighs down Shanghai stocks
By Ye Zhen |
June 28, 2012, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks edged down this morning as China's gloomy economic outlook overshadows the government move to inject more liquidity.
The benchmark index fell 0.07 percent, or 1.56 points, to 2,215.38 points. Turnover was 25.9 billion yuan (US$4.1 billion) by midday.
"The economic growth momentum may further decline as external demand remains weak. Companies are still in the process of deleveraging and destocking. The property bubble continues to deflate," China International Capital Corp said in a report.
The People's Bank of China, China's central bank, released 30 billion yuan today through a 14-day reverse repurchase agreement with an interest rate of 4.15 percent.
Most cement producers gained in the morning trading. Anhui Conch Cement Co, China's biggest cement producer, edged up 0.3 percent to 14.84 yuan. Zhejiang Jianfeng Group Co rose 2.3 percent to 12.02 yuan. Gansu Qilianshan Cement Group Co added 0.7 percent to 10.78 yuan.
Non-ferrous metals companies traded lower. Inner Mongolia Baotou Steel Rare-Earth Hi-tech Co lost 2 percent to 39.36 yuan. Xiamen Tungsten Co dropped 2.1 percent to 42.50 yuan. Rising Nonferrous Metals Share Co fell 1.3 percent to 63.99 yuan.
Most auto makers retreated as data showed China imported 117,000 automobiles in May, up 51.4 percent from a year earlier. Beiqi Foton Motor Co fell 1.8 percent to 7.27 yuan. Zhengzhou Yutong Bus Co lost 1.5 percent to 22.46 yuan, but SAIC Motor Corporation Limited added 0.5 percent to 14.27 yuan.
The benchmark index fell 0.07 percent, or 1.56 points, to 2,215.38 points. Turnover was 25.9 billion yuan (US$4.1 billion) by midday.
"The economic growth momentum may further decline as external demand remains weak. Companies are still in the process of deleveraging and destocking. The property bubble continues to deflate," China International Capital Corp said in a report.
The People's Bank of China, China's central bank, released 30 billion yuan today through a 14-day reverse repurchase agreement with an interest rate of 4.15 percent.
Most cement producers gained in the morning trading. Anhui Conch Cement Co, China's biggest cement producer, edged up 0.3 percent to 14.84 yuan. Zhejiang Jianfeng Group Co rose 2.3 percent to 12.02 yuan. Gansu Qilianshan Cement Group Co added 0.7 percent to 10.78 yuan.
Non-ferrous metals companies traded lower. Inner Mongolia Baotou Steel Rare-Earth Hi-tech Co lost 2 percent to 39.36 yuan. Xiamen Tungsten Co dropped 2.1 percent to 42.50 yuan. Rising Nonferrous Metals Share Co fell 1.3 percent to 63.99 yuan.
Most auto makers retreated as data showed China imported 117,000 automobiles in May, up 51.4 percent from a year earlier. Beiqi Foton Motor Co fell 1.8 percent to 7.27 yuan. Zhengzhou Yutong Bus Co lost 1.5 percent to 22.46 yuan, but SAIC Motor Corporation Limited added 0.5 percent to 14.27 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.
