Investor sentiment casts cloud over share index
Print Edition
Shanghai stocks dipped for the fourth day yesterday on concerns over liquidity and weak property shares.
The Shanghai Composite Index shed 0.19 percent to 2,009.56 points.
The United Overseas Bank Group said in a statement yesterday that it estimated a lower yuan lending of 570 billion yuan in December from 624.6 billion yuan a month earlier, while the growth in China’s M1 and M2 is also expected to ease.
Separately, Shenyin and Wanguo Securities wrote in a note yesterday that the key index is not likely to fall below 2,000 although investor sentiment may not recover for a while.
Property developers fell. Poly Real Estate Group, China’s second-largest listed developer, fell 1.83 percent to 7.52 yuan. Gemdale Corp shed 4.12 percent to 5.82 yuan.
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