Growth woes pull index to 2-week low
By Feng Jianmin and Pan Xiaoyi |
August 13, 2010, Friday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday fell to a two-week low, taking cues from the weak performance of overseas markets overnight, on concerns of slower economic growth.
The benchmark Shanghai Composite Index fell 1.23 percent, or 32.02 points, to close at 2,575.47. Turnover stood at 96 billion yuan (US$14.12 billion) from yesterday's 88.8 billion yuan.
"Investor sentiment remains unstable and susceptible to negative impacts from the external environment. Sluggish performance in surrounding markets and negative news will continue to weigh on the market," Sinolink Securities Co wrote in a research note.
Metal producers led the losers as statistics indicated their output in July fell on shrinking demand. Jiangxi Copper Co, the nation's biggest producer of the metal, retreated 2.5 percent to 27.74 yuan. Aluminum Corp of China Ltd, the nation's biggest maker of the lightweight metal and also called Chalco, fell 2.6 percent to 10.14 yuan.
Kweichow Moutai Co, China's premier spirits maker, added 1.1 percent to 148.92 yuan after reporting a 11.1 percent jump in first-half profits to 3.1 billion yuan.
The benchmark Shanghai Composite Index fell 1.23 percent, or 32.02 points, to close at 2,575.47. Turnover stood at 96 billion yuan (US$14.12 billion) from yesterday's 88.8 billion yuan.
"Investor sentiment remains unstable and susceptible to negative impacts from the external environment. Sluggish performance in surrounding markets and negative news will continue to weigh on the market," Sinolink Securities Co wrote in a research note.
Metal producers led the losers as statistics indicated their output in July fell on shrinking demand. Jiangxi Copper Co, the nation's biggest producer of the metal, retreated 2.5 percent to 27.74 yuan. Aluminum Corp of China Ltd, the nation's biggest maker of the lightweight metal and also called Chalco, fell 2.6 percent to 10.14 yuan.
Kweichow Moutai Co, China's premier spirits maker, added 1.1 percent to 148.92 yuan after reporting a 11.1 percent jump in first-half profits to 3.1 billion yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
