Jittery investors send key index to finish lower
By Hu Xiaocen |
July 5, 2012, Thursday
|
Print Edition
Print Edition
SHANGHAI stocks edged lower yesterday on weak sentiment as investors became worried about China's economic outlook in the second half of this year.
The Shanghai Composite Index dipped 0.08 percent to 2,227.32 points yesterday.
"China's economic growth will continue to slow down in the third quarter," Li Zhiping, analyst at Sinolink Securities, said yesterday. "The central bank may cut reserve requirement ratios this weekend or next weekend."
More than 20 major brokerage firms have issued their outlook reports for the yuan-denominated A-share market over the next six months.
Guotai Junan Securities and Guosen Securities were optimistic as they said the index may reach 2,800 points. Shanghai Securities and Bohai Securities were rather glum, saying the index could drop to 2,000 points.
Brokerage stocks were mixed. Haitong Securities dipped 0.2 percent to 9.52 yuan (US$1.50), and Citic Securities was down 0.6 percent to 12.52 yuan. China Merchants Securities jumped 1.5 percent to finish at 11.60 yuan.
The Shanghai Composite Index dipped 0.08 percent to 2,227.32 points yesterday.
"China's economic growth will continue to slow down in the third quarter," Li Zhiping, analyst at Sinolink Securities, said yesterday. "The central bank may cut reserve requirement ratios this weekend or next weekend."
More than 20 major brokerage firms have issued their outlook reports for the yuan-denominated A-share market over the next six months.
Guotai Junan Securities and Guosen Securities were optimistic as they said the index may reach 2,800 points. Shanghai Securities and Bohai Securities were rather glum, saying the index could drop to 2,000 points.
Brokerage stocks were mixed. Haitong Securities dipped 0.2 percent to 9.52 yuan (US$1.50), and Citic Securities was down 0.6 percent to 12.52 yuan. China Merchants Securities jumped 1.5 percent to finish at 11.60 yuan.
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