Related News
Market drops to one-year low
By Ding Yining |
May 17, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S market posted the biggest daily decline in nearly nine months to close at the lowest level in one year, amid inflationary pressure and concerns that more measures to cool property speculation may hurt the wider economy.
The benchmark Shanghai Composite Index slid 5.07 percent, or 136.70 points, to close at 2,559.93 points. Turnover was 88.2 billion yuan (US$12.9 billion). A total of 868 shares dropped while only 18 gained and 37 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, tumbled 5.97 percent to close at 977.60 points.
Shanghai Jielong Industry Group Co slid the daily limit of 10 percent to 9.62 yuan. Poly Real Estate Group tumbled 7.34 percent to 10.10 yuan. China Vanke Co, the nation's largest listed real estate developer, sank 5.34 percent to 6.92 yuan. Gemdale Corporation plummeted 8.35 percent 5.60 yuan.
The most active May contract of the stock index futures, which is based on the CSI 300 Index, sank 4.97 percent to 2,719 points.
Premier Wen Jiabao said during a visit to the northern city of Tianjin that macro adjustment faces a dilemma as domestic and external conditions remain complex.
"We will properly handle the direction, intensity and pace of macro adjustment to maintain balanced and relatively fast economic development," Wen is quoted by Xinhua News Agency as saying.
Gold producers bucked the downward trend as the European debt crisis pushed up commodity prices. Shandong Gold Mining Co jumped 5.60 percent to 41.89 yuan. Zhongjin Gold Mining Co advanced 1.63 percent to 61.09 yuan.
Brokerages were also flat. GF Securities dropped 9.44 percent to 30.89 yuan. Changjiang Securities lost 8.20 percent to 11.75 yuan. Guoyuan Securities tumbled 9.28 percent to 12.81 yuan.
The benchmark Shanghai Composite Index slid 5.07 percent, or 136.70 points, to close at 2,559.93 points. Turnover was 88.2 billion yuan (US$12.9 billion). A total of 868 shares dropped while only 18 gained and 37 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, tumbled 5.97 percent to close at 977.60 points.
Shanghai Jielong Industry Group Co slid the daily limit of 10 percent to 9.62 yuan. Poly Real Estate Group tumbled 7.34 percent to 10.10 yuan. China Vanke Co, the nation's largest listed real estate developer, sank 5.34 percent to 6.92 yuan. Gemdale Corporation plummeted 8.35 percent 5.60 yuan.
The most active May contract of the stock index futures, which is based on the CSI 300 Index, sank 4.97 percent to 2,719 points.
Premier Wen Jiabao said during a visit to the northern city of Tianjin that macro adjustment faces a dilemma as domestic and external conditions remain complex.
"We will properly handle the direction, intensity and pace of macro adjustment to maintain balanced and relatively fast economic development," Wen is quoted by Xinhua News Agency as saying.
Gold producers bucked the downward trend as the European debt crisis pushed up commodity prices. Shandong Gold Mining Co jumped 5.60 percent to 41.89 yuan. Zhongjin Gold Mining Co advanced 1.63 percent to 61.09 yuan.
Brokerages were also flat. GF Securities dropped 9.44 percent to 30.89 yuan. Changjiang Securities lost 8.20 percent to 11.75 yuan. Guoyuan Securities tumbled 9.28 percent to 12.81 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.
