Key index records biggest weekly loss
By Ding Yining |
January 30, 2010, Saturday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday closed lower and posted the biggest weekly loss in two months as investors worried that tightening measures on liquidity will dry up capital in the market.
The Shanghai Composite Index dipped 0.16 percent, or 4.85 points, to close at 2,989.29. Turnover was 95.7 billion yuan (US$14 billion). The index fell 4.45 percent this week to bring its monthly loss to 8.78 percent.
"Investors are still worried about a possible rise in interest rate, and the market overall is set for more fluctuations in the short term despite some better performing shares due to their better-than-expected profits in the past year," Huatai Securities said.
Banks continued to fall on concerns of a tighter mortgage loan policy after banking regulators reiterated calls for reasonable control of lending growth.
Consumer-related shares bucked the downward trend after Vice Premier Li Keqiang reiterated efforts to help farmers boost their spending power through tax cuts and subsidies in a speech at the World Economic Forum. He added the government's goal is to strike a balance between growth and proper management of inflation.
The Shanghai Composite Index dipped 0.16 percent, or 4.85 points, to close at 2,989.29. Turnover was 95.7 billion yuan (US$14 billion). The index fell 4.45 percent this week to bring its monthly loss to 8.78 percent.
"Investors are still worried about a possible rise in interest rate, and the market overall is set for more fluctuations in the short term despite some better performing shares due to their better-than-expected profits in the past year," Huatai Securities said.
Banks continued to fall on concerns of a tighter mortgage loan policy after banking regulators reiterated calls for reasonable control of lending growth.
Consumer-related shares bucked the downward trend after Vice Premier Li Keqiang reiterated efforts to help farmers boost their spending power through tax cuts and subsidies in a speech at the World Economic Forum. He added the government's goal is to strike a balance between growth and proper management of inflation.
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