Related News
Market dips to open New Year at 3,003
By Joyce Pan |
February 22, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index ended slightly lower on the first trading day after the Chinese Lunar New Year holiday, as investor sentiment was dampened by the central bank's stance to further withdraw liquidity.
The benchmark Shanghai Composite Index dipped 0.49 percent, or 14.73 points, to close at 3,003.40 points. Turnover stood at 78.7 billion yuan (US$11.57 billion). Losers outnumbered gainers 445 to 414 and 35 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.1 percent to close at 1,129.38 points.
The People's Bank of China announced before the holiday that it will raise the bank reserve ratio to 16.5 percent on Thursday, the second rise this year.
Market watchers estimated China's central bank may raise the interest rate in April to soak up market liquidity and curb inflation.
Lenders led the decliners. Bank of China was down 0.5 percent at 4.11 yuan. China Construction Bank Corp edged down 0.9 percent at 5.64 yuan. Industrial and Commercial Bank of China dropped 0.6 percent to 4.88 yuan.
Brokerages showed mixed performances as the China Financial Futures Exchange today started to accept applications from investors to open accounts for stock index futures trading. CITIC Securities Co added 0.7 percent to 27.52 yuan. Everbright Securities Co gained 0.08 percent to 26.58 yuan. Sinolink Securities Co inched down 0.2 percent to 20.39 yuan.
The benchmark Shanghai Composite Index dipped 0.49 percent, or 14.73 points, to close at 3,003.40 points. Turnover stood at 78.7 billion yuan (US$11.57 billion). Losers outnumbered gainers 445 to 414 and 35 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.1 percent to close at 1,129.38 points.
The People's Bank of China announced before the holiday that it will raise the bank reserve ratio to 16.5 percent on Thursday, the second rise this year.
Market watchers estimated China's central bank may raise the interest rate in April to soak up market liquidity and curb inflation.
Lenders led the decliners. Bank of China was down 0.5 percent at 4.11 yuan. China Construction Bank Corp edged down 0.9 percent at 5.64 yuan. Industrial and Commercial Bank of China dropped 0.6 percent to 4.88 yuan.
Brokerages showed mixed performances as the China Financial Futures Exchange today started to accept applications from investors to open accounts for stock index futures trading. CITIC Securities Co added 0.7 percent to 27.52 yuan. Everbright Securities Co gained 0.08 percent to 26.58 yuan. Sinolink Securities Co inched down 0.2 percent to 20.39 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
