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Gold producers and property developers pace drop in Shanghai
By Feng Jianmin |
July 20, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell for the third day in the morning session led by property developers and gold miners.
The benchmark Shanghai Composite Index lost 0.41 percent to 2,785.62 points. Turnover fell to 54.9 billion yuan (US$8.5 billion) from yesterday's 62.8 billion yuan.
Gold miners fell after bullion prices fell to US$1,590 level from a 31-year high of US$1,610.6 per ounce. Shandong Gold Mining Co dropped 3.1 percent to 49.68 yuan. Zhongjin Mining Co lost 3.7 percent to 29.15 yuan.
Property developers were also weak. Gemdale Corp fell 1.3 percent to 6.34 yuan. Poly Real Estate Co dipped 0.6 percent to 10.93 yuan.
Consumer goods producers rose on speculation that fast inflation will drive up prices. Tsingtao Brewery Co rose 1.8 percent to 38.25 yuan. Henan Shuanghui Investment & Development Co climbed 2.8 percent to 70.43 yuan.
The benchmark Shanghai Composite Index lost 0.41 percent to 2,785.62 points. Turnover fell to 54.9 billion yuan (US$8.5 billion) from yesterday's 62.8 billion yuan.
Gold miners fell after bullion prices fell to US$1,590 level from a 31-year high of US$1,610.6 per ounce. Shandong Gold Mining Co dropped 3.1 percent to 49.68 yuan. Zhongjin Mining Co lost 3.7 percent to 29.15 yuan.
Property developers were also weak. Gemdale Corp fell 1.3 percent to 6.34 yuan. Poly Real Estate Co dipped 0.6 percent to 10.93 yuan.
Consumer goods producers rose on speculation that fast inflation will drive up prices. Tsingtao Brewery Co rose 1.8 percent to 38.25 yuan. Henan Shuanghui Investment & Development Co climbed 2.8 percent to 70.43 yuan.
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