Measures fear damps key index
By Feng Jianmin |
March 31, 2011, Thursday
|
Print Edition
Print Edition
SHANGHAI'S key stock index yesterday fell for a second day over concerns that the central government may unveil tightening measures ahead of a three-day national holiday.
The Shanghai Composite Index dipped 0.1 percent to 2,955.77. Turnover shrank to 153 billion yuan (US$23 billion) from 200 billion yuan on Tuesday.
"Total turnover in Shanghai and Shenzhen bourses dropped 20 percent from Tuesday as investors are watching," said Zhang Gang, an analyst at China Central Securities. "The growth of blue chips, driven by positive earnings, may halt as most companies have released their annual reports."
China may raise both reserve requirements for banks and interest rates in April to stave off inflationary risks, China Securities Journal said yesterday.
The People's Bank of China, the central bank, has withdrawn money from banks through both open market operations and an increase in reserve requirement ratio this month - a rare occasion for the two measures to be implemented in the same month.
The seven-day repurchase rate, measuring the cost of borrowing money among banks, rose yesterday, according to market watchers.
The property sector retreated after China's banking regulatory body said it would tighten inspection over credit risks. Poly Real Estate Co dropped 2.8 percent to 13.60 yuan. Gemdale Corp fell 1.6 percent to 6.85 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.
