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Heavyweights pull index down
By Ding Yining |
January 8, 2009, Thursday
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Print Edition
Print Edition
SHANGHAI'S key stock index ended lower yesterday after weak performances by heavyweights and banks.
The Shanghai Composite Index was down 0.68 percent, or 13.13 points, to close at 1,924.01. Turnover was 63.9 billion yuan (US$9.34 billion), down from Tuesday's 69 billion yuan. Gainers outnumbered losers 445 to 391 and 72 remained unchanged.
The shares of China Construction Bank dropped 2.52 percent to 3.87 yuan. Bank of America yesterday sold US$2.8 billion of Construction Bank's Hong Kong-listed shares. Some 5.62 billion shares were being sold at HK$3.92 each.
Shanghai Pudong Development Bank lost 1.31 percent to 14.29 yuan. The Industrial and Commercial Bank of China, the nation's biggest lender, buckled 2.16 percent to 3.62 yuan.
The Ministry of Industry and Information Technology issued three 3G licenses yesterday but related companies were weak.
China United Telecommu掳?nications Corp fell 1.89 percent to 5.19 yuan. ZTE Corp was down 4.03 percent to 27.83 yuan. Fiberhome Telecommunication Technologies Co fell 4.61 percent to 10.97 yuan.
Beijing Centergate Technologies (Holding) Co slipped 0.59 percent to 3.39 yuan, and Sanlian Commerce Co was down 1.14 percent to 4.34 yuan. Both companies were partly owned by Gome Electrical Appliances Holdings Ltd. Du Juan, wife of Gome's founder Huang Guangyu, has been placed under police surveillance in Beijing for alleged involvement in business crimes, Caijing Magazine reported.
The Shanghai Composite Index was down 0.68 percent, or 13.13 points, to close at 1,924.01. Turnover was 63.9 billion yuan (US$9.34 billion), down from Tuesday's 69 billion yuan. Gainers outnumbered losers 445 to 391 and 72 remained unchanged.
The shares of China Construction Bank dropped 2.52 percent to 3.87 yuan. Bank of America yesterday sold US$2.8 billion of Construction Bank's Hong Kong-listed shares. Some 5.62 billion shares were being sold at HK$3.92 each.
Shanghai Pudong Development Bank lost 1.31 percent to 14.29 yuan. The Industrial and Commercial Bank of China, the nation's biggest lender, buckled 2.16 percent to 3.62 yuan.
The Ministry of Industry and Information Technology issued three 3G licenses yesterday but related companies were weak.
China United Telecommu掳?nications Corp fell 1.89 percent to 5.19 yuan. ZTE Corp was down 4.03 percent to 27.83 yuan. Fiberhome Telecommunication Technologies Co fell 4.61 percent to 10.97 yuan.
Beijing Centergate Technologies (Holding) Co slipped 0.59 percent to 3.39 yuan, and Sanlian Commerce Co was down 1.14 percent to 4.34 yuan. Both companies were partly owned by Gome Electrical Appliances Holdings Ltd. Du Juan, wife of Gome's founder Huang Guangyu, has been placed under police surveillance in Beijing for alleged involvement in business crimes, Caijing Magazine reported.
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