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Inflation concerns lead Shanghai shares down
By Ding Yining |
June 8, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S benchmark stock index closed lower in the morning session as sentiment remained lackluster among inflation concerns.
The benchmark Shanghai Composite Index lost 0.34 percent, or 9.26 points, to 2,735.04. Turnover was 48.6 billion yuan(US$7.5 billion).
China is facing "relatively large" inflationary pressure amid rising global grain and oil prices, Xu Xianping, vice chairman of the National Development and Reform Commission, said at a press conference today.
Industrial & Commercial Bank of China, the nation's biggest lender, dipped 0.45 percent to 4.41 yuan. Shanghai Pudong Development Bank sank 2.38 percent to 9.86 yuan. China Construction Bank lost 1.21 percent to close at 4.89 yuan.
Property developers were among the gainers. Shanghai Shimao Co Ltd added 1.31 percent to 13.96 yuan. China Vanke Co said jumped 2.82 percent to 8.03 yuan after it said sales in May rose 76.4 percent from a year ago to 9 billion yuan.
The benchmark Shanghai Composite Index lost 0.34 percent, or 9.26 points, to 2,735.04. Turnover was 48.6 billion yuan(US$7.5 billion).
China is facing "relatively large" inflationary pressure amid rising global grain and oil prices, Xu Xianping, vice chairman of the National Development and Reform Commission, said at a press conference today.
Industrial & Commercial Bank of China, the nation's biggest lender, dipped 0.45 percent to 4.41 yuan. Shanghai Pudong Development Bank sank 2.38 percent to 9.86 yuan. China Construction Bank lost 1.21 percent to close at 4.89 yuan.
Property developers were among the gainers. Shanghai Shimao Co Ltd added 1.31 percent to 13.96 yuan. China Vanke Co said jumped 2.82 percent to 8.03 yuan after it said sales in May rose 76.4 percent from a year ago to 9 billion yuan.
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