Locking in gains hits key index
By Ye Zhen |
January 18, 2013, Friday
|
Print Edition
Print Edition
SHANGHAI key stock index dropped yesterday to a four-day low as investors locked in gains.
The Shanghai Composite Index fell 1.06 percent to 2,284.91 points.
"Market sentiment waned due to the recent fall in some bellwether shares and a bout of profit taking also weighed on the market," Damo Investment Co said yesterday.
The Shanghai and Shenzhen stock markets saw a 10 billion yuan (US$1.6 billion) outflow of funds in the past two trading days, according to data from Great Wisdom Co.
Investors opened 5.5 million new accounts to trade A-shares last year, a report by the China Securities Depository and Clearing Corporation Ltd said. This was a tumble of almost 50 percent from 2011 and was the lowest level since 2007, indicating waning interest in the domestic stock market.
Standard Chartered said in a report that bad loans in China's banking sector may rise sharply this year and the central government may have to help the sector by injecting funds over the next five years.
Shanghai Pudong Development Bank Co fell 0.9 percent to 10.03 yuan. China Merchants Bank lost 2.2 percent to 13.22 yuan. The Industrial and Commercial Bank of China Ltd, the nation's largest lender, shed 1.9 percent to close at 4.19 yuan.
The Shanghai Composite Index fell 1.06 percent to 2,284.91 points.
"Market sentiment waned due to the recent fall in some bellwether shares and a bout of profit taking also weighed on the market," Damo Investment Co said yesterday.
The Shanghai and Shenzhen stock markets saw a 10 billion yuan (US$1.6 billion) outflow of funds in the past two trading days, according to data from Great Wisdom Co.
Investors opened 5.5 million new accounts to trade A-shares last year, a report by the China Securities Depository and Clearing Corporation Ltd said. This was a tumble of almost 50 percent from 2011 and was the lowest level since 2007, indicating waning interest in the domestic stock market.
Standard Chartered said in a report that bad loans in China's banking sector may rise sharply this year and the central government may have to help the sector by injecting funds over the next five years.
Shanghai Pudong Development Bank Co fell 0.9 percent to 10.03 yuan. China Merchants Bank lost 2.2 percent to 13.22 yuan. The Industrial and Commercial Bank of China Ltd, the nation's largest lender, shed 1.9 percent to close at 4.19 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
