Related News
Market ends lower over gloomy prospect
By Lu Nengneng |
December 27, 2011, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index extended yesterday's retreat, declining to a 33-month low today as the gloomy market outlook continued to weigh on investors and encouraged short selling.
The Shanghai Composite Index sank 1.09 percent to 2,166.21 points, wiping away the gains in the morning. Turnover was sluggish at 37.4 billion yuan (US$5.9 billion).
The market, heading towards an eighth consecutive losing week, has seen its benchmark plunge 22 percent amid fluctuations this year and shaken people's belief in value investment to the core.
There is no sign of a tipping point in this downturn as the economic upside is rather limited. The government has set a prudent tone for next year's monetary policies, which dispelled the speculation of liquidity injections on a large scale to boost the slowing economy.
Property developers fell as the extended home purchase restrictions will further strain their cash flow. Poly Real Estate tumbled 3.17 percent to 9.76 yuan. Gemdale Corp lost 1.23 percent to 4.8 yuan.
Resource stocks continued to drop on worries that the global financial turbulence and the domestic economic slowdown will result in oversupply. Aluminum Corp of China slipped 1.69 percent to 6.41 yuan. Jiangxi Copper sank 2.09 percent to 21.05 yuan. Yanzhou Coal Mining shed 2.04 percent to 20.7 yuan.
Insurers were among the few across the board that secured part of their advance earlier today as the central government's financial conference early next year will provide hope for policy fine-tuning.
China Life Insurance, the country's biggest insurer, advanced 0.76 percent to 17.17 yuan while its biggest rival Ping An Insurance gained 0.63 percent to 33.78 yuan.
The Shanghai Composite Index sank 1.09 percent to 2,166.21 points, wiping away the gains in the morning. Turnover was sluggish at 37.4 billion yuan (US$5.9 billion).
The market, heading towards an eighth consecutive losing week, has seen its benchmark plunge 22 percent amid fluctuations this year and shaken people's belief in value investment to the core.
There is no sign of a tipping point in this downturn as the economic upside is rather limited. The government has set a prudent tone for next year's monetary policies, which dispelled the speculation of liquidity injections on a large scale to boost the slowing economy.
Property developers fell as the extended home purchase restrictions will further strain their cash flow. Poly Real Estate tumbled 3.17 percent to 9.76 yuan. Gemdale Corp lost 1.23 percent to 4.8 yuan.
Resource stocks continued to drop on worries that the global financial turbulence and the domestic economic slowdown will result in oversupply. Aluminum Corp of China slipped 1.69 percent to 6.41 yuan. Jiangxi Copper sank 2.09 percent to 21.05 yuan. Yanzhou Coal Mining shed 2.04 percent to 20.7 yuan.
Insurers were among the few across the board that secured part of their advance earlier today as the central government's financial conference early next year will provide hope for policy fine-tuning.
China Life Insurance, the country's biggest insurer, advanced 0.76 percent to 17.17 yuan while its biggest rival Ping An Insurance gained 0.63 percent to 33.78 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.
