Index closes lower for 4th day
By Ding Yining |
October 30, 2010, Saturday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday closed lower for the fourth day, narrowing the biggest monthly gain since July 2009, as financial shares performed sluggishly after the regulator warned of risks.
The Shanghai Composite Index shed 0.46 percent, or 13.74 points, to close at 2,978.84. Turnover stood at 194.6 billion yuan (US$29.5 billion).
The barometer surged 12 percent this month.
Chinese banks need to "closely monitor" risks in property loans, Liu Mingkang, chairman of the China Banking Regulatory Commission, said in a statement posted on the regulator's website on Thursday. Banks were asked to better manage liquidity risks and loans to local government financing vehicles, the statement said.
The Agricultural Bank of China fell 1.43 percent to 2.75 yuan. The Bank of Communications slumped 3.29 percent to 6.17 yuan. China Pacific Insurance (Group) Co lost 1.07 percent to 25.85 yuan. Ping An Insurance (Group) Co fell 1.46 percent to 59.92 yuan.
The Shanghai Composite Index shed 0.46 percent, or 13.74 points, to close at 2,978.84. Turnover stood at 194.6 billion yuan (US$29.5 billion).
The barometer surged 12 percent this month.
Chinese banks need to "closely monitor" risks in property loans, Liu Mingkang, chairman of the China Banking Regulatory Commission, said in a statement posted on the regulator's website on Thursday. Banks were asked to better manage liquidity risks and loans to local government financing vehicles, the statement said.
The Agricultural Bank of China fell 1.43 percent to 2.75 yuan. The Bank of Communications slumped 3.29 percent to 6.17 yuan. China Pacific Insurance (Group) Co lost 1.07 percent to 25.85 yuan. Ping An Insurance (Group) Co fell 1.46 percent to 59.92 yuan.
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