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Key index closes flat on economic data
By Feng Jianmin |
February 16, 2011, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S key stock index closed almost unchanged yesterday after official data on inflation and credit growth showed they were lower than expected.
The Shanghai Composite Index ended basically flat at 2,899.24. Turnover rose to 187 billion yuan (US$28.8 billion) from Monday's 180 billion yuan.
China's consumer prices rose a slower 4.9 percent in January, lower than expectations of more than 5 percent. But the figure was still higher than December's 4.6 percent due to bad weather and rising demand ahead of the Spring Festival holiday.
Bank shares fell after the People's Bank of China, the central bank, yesterday said banks faced a money shortage as yuan deposits in January dropped 20.3 billion yuan.
The Industrial and Commercial Bank of China lost 0.7 percent to 4.34 yuan. The Agricultural Bank of China fell 0.8 percent to 2.66 yuan.
Copper producers climbed after prices hit a record US$10,190 a ton in London on Monday.
Jiangxi Copper Co, China's largest producer of the metal, closed at 3.2 percent higher after earlier jumping as much as 7 percent.
The Shanghai Composite Index ended basically flat at 2,899.24. Turnover rose to 187 billion yuan (US$28.8 billion) from Monday's 180 billion yuan.
China's consumer prices rose a slower 4.9 percent in January, lower than expectations of more than 5 percent. But the figure was still higher than December's 4.6 percent due to bad weather and rising demand ahead of the Spring Festival holiday.
Bank shares fell after the People's Bank of China, the central bank, yesterday said banks faced a money shortage as yuan deposits in January dropped 20.3 billion yuan.
The Industrial and Commercial Bank of China lost 0.7 percent to 4.34 yuan. The Agricultural Bank of China fell 0.8 percent to 2.66 yuan.
Copper producers climbed after prices hit a record US$10,190 a ton in London on Monday.
Jiangxi Copper Co, China's largest producer of the metal, closed at 3.2 percent higher after earlier jumping as much as 7 percent.
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