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Index dips as investors are clouded over market trend
By Lu Nengneng |
January 12, 2012, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stocks index edged down today as investors are mixed over the newly released inflation data which may influence the country's monetary policies and market trend.
The Shanghai Composite Index extended yesterday's losses, dipping 0.05 percent to 2275.01 points amid fluctuation. Turnover shrank to 64 billion yuan (US$ 10.1 billion) from 74.3 billion yuan.
The National Statistics Bureau released the December Consumer Price Index today, which eased five months in a row to a 15-month low but jumped 4.1 percent from a year earlier.
Though it capped a 5.4 percent annual growth, short of the 4 percent target set by the government early last year, the slowing price hike since August indicated that the government's efforts to curb inflation are paying off.
Lu Zhengwei, chief economist with Industrial Bank, said the central bank may cut the bank reserve requirement again before the Chinese New Year to provide more liquidity.
Banks staged a rally today. China Merchants Bank rose 1.04 percent to 12.62 yuan. China Everbright Bank gained 0.34 percent to 2.95 yuan.
Brokers dropped as concerns over battered investor confidence outweighed the prospect of liquidity injection in the near future.
CITIC Securities lost 0.5 percent to 10.03 yuan. Sinolink Securities fell 0.88 percent to 10.13 yuan.
The Shanghai Composite Index extended yesterday's losses, dipping 0.05 percent to 2275.01 points amid fluctuation. Turnover shrank to 64 billion yuan (US$ 10.1 billion) from 74.3 billion yuan.
The National Statistics Bureau released the December Consumer Price Index today, which eased five months in a row to a 15-month low but jumped 4.1 percent from a year earlier.
Though it capped a 5.4 percent annual growth, short of the 4 percent target set by the government early last year, the slowing price hike since August indicated that the government's efforts to curb inflation are paying off.
Lu Zhengwei, chief economist with Industrial Bank, said the central bank may cut the bank reserve requirement again before the Chinese New Year to provide more liquidity.
Banks staged a rally today. China Merchants Bank rose 1.04 percent to 12.62 yuan. China Everbright Bank gained 0.34 percent to 2.95 yuan.
Brokers dropped as concerns over battered investor confidence outweighed the prospect of liquidity injection in the near future.
CITIC Securities lost 0.5 percent to 10.03 yuan. Sinolink Securities fell 0.88 percent to 10.13 yuan.
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