Index falls from 5-month high
By Feng Jianmin |
April 15, 2011, Friday
|
Print Edition
Print Edition
SHANGHAI'S stocks fell from a five-month high yesterday as investors turned cautious ahead of today's release of China's economic data for the first quarter.
The Shanghai Composite Index dipped 0.3 percent to end at 3,042.64.
The National Bureau of Statistics will release the data on China's economic growth for the first three months of the year and March's inflation figure today.
Financial markets expect the gross domestic product to rise 9.5 to 9.7 percent in the first quarter from the same period last year, slower than the economic growth of the fourth quarter in 2010, market watchers said.
Inflation in March may hit a 32-month high of 5.3 to 5.4 percent, Hong Kong-based Phoenix TV said yesterday, citing unidentified sources.
"Growing concerns over tightening monetary and property policies are adding pressure to the market," said Kou Jianxun, an analyst at Soochow Securities.
The property sector led the decliners. Poly Real Estate Group lost 2.3 percent to 13.83 yuan.
Oil firms were weak after global crude prices fell. Sinopec, China's second-largest oil producer, dipped 0.8 percent to end at 8.82 yuan.
The Shanghai Composite Index dipped 0.3 percent to end at 3,042.64.
The National Bureau of Statistics will release the data on China's economic growth for the first three months of the year and March's inflation figure today.
Financial markets expect the gross domestic product to rise 9.5 to 9.7 percent in the first quarter from the same period last year, slower than the economic growth of the fourth quarter in 2010, market watchers said.
Inflation in March may hit a 32-month high of 5.3 to 5.4 percent, Hong Kong-based Phoenix TV said yesterday, citing unidentified sources.
"Growing concerns over tightening monetary and property policies are adding pressure to the market," said Kou Jianxun, an analyst at Soochow Securities.
The property sector led the decliners. Poly Real Estate Group lost 2.3 percent to 13.83 yuan.
Oil firms were weak after global crude prices fell. Sinopec, China's second-largest oil producer, dipped 0.8 percent to end at 8.82 yuan.
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