Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Index loses steam to tumble nearly 3%
By Cathy Ding |
April 23, 2009, Thursday
|
Print Edition
Print Edition
SHANGHAI'S key stock index tumbled the most in two weeks yesterday to close below 2,500 points as energy companies and metal producers declined on profit taking.
The Shanghai Composite Index lost 2.94 percent, or 74.48, to 2,461.35, the biggest drop since April 8. Turnover was 177.6 billion yuan (US$26 billion).
"Concerns over the earnings of listed companies in the first quarter as well as profit-taking brought the index down, and the fluctuation is likely to continue in the short term," said a research note by Haitong Securities.
Datang International Power Generation Co, a unit of China's second-biggest electricity producer, declined 2.77 percent to 7.37 yuan. GD Power Development Co, the largest electricity utility in northeastern China, dipped 0.95 percent to 6.24 yuan. Huaneng Power International Inc, the listed unit of China's largest power group, lost 2.95 percent to 7.89 yuan.
Zijin Mining Group Co plunged 6.04 percent to 9.80 yuan and Zhongjin Gold Corp eased 3.66 percent to 55.35 yuan after metal prices fell.
Banks reversed gains in the morning session despite the People's Bank of China Deputy Governor Yi Gang saying yesterday there are signs of economic recovery in China as the government stimulus packages are working.
The Industrial and Commercial Bank of China, the nation's biggest bank, dipped 0.24 percent to 4.11 yuan. China Merchants Bank Co, the nation's fifth-largest bank by market value, lost 3.00 percent to 15.54 yuan.
Ping An Insurance Co fell 2.83 percent to 39.83 yuan. China Life Insurance Co shed 2.66 percent to 23.45 yuan.
The Shanghai Composite Index lost 2.94 percent, or 74.48, to 2,461.35, the biggest drop since April 8. Turnover was 177.6 billion yuan (US$26 billion).
"Concerns over the earnings of listed companies in the first quarter as well as profit-taking brought the index down, and the fluctuation is likely to continue in the short term," said a research note by Haitong Securities.
Datang International Power Generation Co, a unit of China's second-biggest electricity producer, declined 2.77 percent to 7.37 yuan. GD Power Development Co, the largest electricity utility in northeastern China, dipped 0.95 percent to 6.24 yuan. Huaneng Power International Inc, the listed unit of China's largest power group, lost 2.95 percent to 7.89 yuan.
Zijin Mining Group Co plunged 6.04 percent to 9.80 yuan and Zhongjin Gold Corp eased 3.66 percent to 55.35 yuan after metal prices fell.
Banks reversed gains in the morning session despite the People's Bank of China Deputy Governor Yi Gang saying yesterday there are signs of economic recovery in China as the government stimulus packages are working.
The Industrial and Commercial Bank of China, the nation's biggest bank, dipped 0.24 percent to 4.11 yuan. China Merchants Bank Co, the nation's fifth-largest bank by market value, lost 3.00 percent to 15.54 yuan.
Ping An Insurance Co fell 2.83 percent to 39.83 yuan. China Life Insurance Co shed 2.66 percent to 23.45 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.
