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Market extends loss in morning
By Joyce Pan |
May 18, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI stocks extended losses in the morning session, setting for a fresh low this year, led by gold producers and commodity producers.
The benchmark Shanghai Composite Index dropped 0.81 percent, or 20.74 points, to 2,539.2 points. Turnover stood at 39.2 billion yuan (US$ 5.76 billion). Losers outnumbered gainers by 694 to 141, and 14 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.76 percent to close at 960.36 points.
Zijin Mining Group Co, the country's largest gold producer, dived 7.7 percent to 7.35 yuan. Shandong Gold Mining Co plunged 6.5 percent 39.15 yuan.
Jiangxi Copper lost 1.5 percent to 28.3 yuan. Aluminum Corporation of China Ltd was down 0.8 percent to 9.93 yuan.
China Railway Group rose 0.7 percent to 4.54 yuan after saying it won 69.2 billion yuan of new contracts, equal to 20 percent of 2009 revenue, including railroad projects in China and a US$95.8 million order for a bridge in Morocco.
China Shipping Development Co dipped 0.1 percent to 9.27 yuan. The dry-bulk arm of the nation's second-largest shipping group said it will buy a 50-percent stake in an oil transportation unit from its parent for 144.5 million yuan. Separately, it said it will sell a bulk carrier to a company controlled by its parent for 13.1 million yuan.
The benchmark Shanghai Composite Index dropped 0.81 percent, or 20.74 points, to 2,539.2 points. Turnover stood at 39.2 billion yuan (US$ 5.76 billion). Losers outnumbered gainers by 694 to 141, and 14 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.76 percent to close at 960.36 points.
Zijin Mining Group Co, the country's largest gold producer, dived 7.7 percent to 7.35 yuan. Shandong Gold Mining Co plunged 6.5 percent 39.15 yuan.
Jiangxi Copper lost 1.5 percent to 28.3 yuan. Aluminum Corporation of China Ltd was down 0.8 percent to 9.93 yuan.
China Railway Group rose 0.7 percent to 4.54 yuan after saying it won 69.2 billion yuan of new contracts, equal to 20 percent of 2009 revenue, including railroad projects in China and a US$95.8 million order for a bridge in Morocco.
China Shipping Development Co dipped 0.1 percent to 9.27 yuan. The dry-bulk arm of the nation's second-largest shipping group said it will buy a 50-percent stake in an oil transportation unit from its parent for 144.5 million yuan. Separately, it said it will sell a bulk carrier to a company controlled by its parent for 13.1 million yuan.
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