Key index finishes flat
By Ding Yining |
April 21, 2010, Wednesday
|
Print Edition
Print Edition
SHANGHAI'S stocks closed flat yesterday as investors remained cautious after the market plunged on Monday, with real estate and banking shares extending their losses.
The Shanghai Composite Index fell 0.03 percent, or 0.77 point, to close at 2,979.53. Turnover was 127.1 billion yuan (US$18.6 billion).
The Ministry of Housing and Urban-Rural Development has ordered developers not to take deposits for sales of uncompleted apartments without approval in a bid to prevent a property bubble, according to a statement on its Website yesterday.
Developers must disclose to the public all apartments available and the prices, and start selling within 10 days of getting pre-sale approval, it said.
Property and banking shares extended previous losses.
Gemdale Corp, China's fourth-largest developer by market value, lost 3.4 percent to 11.22 yuan, the lowest since May 11.
Fujian-based Industrial Bank shed 2.41 percent to close at 30.33 yuan. China Merchants Bank Co lost 1.43 percent to 14.48 yuan and Shanghai Pudong Development Bank dipped 0.1 percent to close at 20.54 yuan.
The Shanghai Composite Index fell 0.03 percent, or 0.77 point, to close at 2,979.53. Turnover was 127.1 billion yuan (US$18.6 billion).
The Ministry of Housing and Urban-Rural Development has ordered developers not to take deposits for sales of uncompleted apartments without approval in a bid to prevent a property bubble, according to a statement on its Website yesterday.
Developers must disclose to the public all apartments available and the prices, and start selling within 10 days of getting pre-sale approval, it said.
Property and banking shares extended previous losses.
Gemdale Corp, China's fourth-largest developer by market value, lost 3.4 percent to 11.22 yuan, the lowest since May 11.
Fujian-based Industrial Bank shed 2.41 percent to close at 30.33 yuan. China Merchants Bank Co lost 1.43 percent to 14.48 yuan and Shanghai Pudong Development Bank dipped 0.1 percent to close at 20.54 yuan.
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