Key index ends flat in 4th week of decline
By Pan Xiaoyi |
December 4, 2010, Saturday
|
Print Edition
Print Edition
SHANGHAI'S stocks closed generally flat yesterday, leaving the key index in the fourth week of decline, as losses in consumer sectors overshadowed gains in photovoltaic power producers while investors continued to be cautious.
The Shanghai Composite Index edged down 0.04 percent, or 1.18 points, to end at 2,842.43. Turnover shrank to 105.9 billion yuan (US$15.6 billion) yesterday from 133.8 billion yuan on Thursday.
China signaled it will shift to a prudent monetary policy from a moderately loose stance at a meeting attended by the country's top political leaders that was presided by President Hu Jintao yesterday.
"The market is haunted by cautious sentiment as investors sit on the sidelines pending a second interest rate hike," said Zhang Gang, an analyst at Central China Securities Co.
"This weekend is a very sensitive period for further tightening measures," he said, referring to a possible news of monetary policy.
Photovoltaic power firms gained after four ministries said they will offer them fiscal grants.
Baoding Tianwei Baobian Electric Co rose 5 percent to 25.26 yuan. Leshan Electric Power Co surged 4 percent to 14.73 yuan.
Bright Dairy and Food Co lost 2.7 percent to 10.28 yuan. Anhui Golden Seed Winery Co fell 2.4 percent to 18.09 yuan. Beijing Hualian Hypermarket Co shed 1.5 percent to close at 11.59 yuan.
The Shanghai Composite Index edged down 0.04 percent, or 1.18 points, to end at 2,842.43. Turnover shrank to 105.9 billion yuan (US$15.6 billion) yesterday from 133.8 billion yuan on Thursday.
China signaled it will shift to a prudent monetary policy from a moderately loose stance at a meeting attended by the country's top political leaders that was presided by President Hu Jintao yesterday.
"The market is haunted by cautious sentiment as investors sit on the sidelines pending a second interest rate hike," said Zhang Gang, an analyst at Central China Securities Co.
"This weekend is a very sensitive period for further tightening measures," he said, referring to a possible news of monetary policy.
Photovoltaic power firms gained after four ministries said they will offer them fiscal grants.
Baoding Tianwei Baobian Electric Co rose 5 percent to 25.26 yuan. Leshan Electric Power Co surged 4 percent to 14.73 yuan.
Bright Dairy and Food Co lost 2.7 percent to 10.28 yuan. Anhui Golden Seed Winery Co fell 2.4 percent to 18.09 yuan. Beijing Hualian Hypermarket Co shed 1.5 percent to close at 11.59 yuan.
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