Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Oil and coal cause market to slide
By Ding Yining |
May 22, 2009, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock index dipped on the last trading day of the week to end below 2,600 points with weak performances by oil companies and coal producers.
The benchmark Shanghai Composite Index dipped 0.50 percent, or 13.02 points, to close at 2,597.60 points. Gainers outnumbered losers 465 to 336 while 107 remained unchanged. Turnover was 99.1 billion yuan (US$14.5 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.17 percent to close at 876.58 points.
PetroChina and coal producers dropped and led the market down after oil prices slid 1.6 percent overnight. PetroChina, the largest oil producer and the biggest component index, retreated 2.35 percent to 12.86 yuan.
China Shenhua Energy Co, Asia's largest coal producer, lowered 2.06 percent to 26.09 yuan. Datong Coal industry Co, China's second-largest coal company by capacity, lost 2.88 percent to 35.79 yuan. Pindingshan Tian'an Coal Mining Co lowered 3.25 percent to 34.22 yuan.
Banks showed mixed results. Industrial & Commercial Bank of China, the nation's biggest lender, edged up 0.47 percent to 4.26 yuan. Bank of Communications lost 1.26 percent to 7.05 yuan. China Construction Bank was up 0.22 percent to 4.50 yuan. Bank of China rose 0.28 percent to 3.53 yuan.
The green energy sector bucked the downward trend as the government pledged to support the green energy industry to stimulate the country's economy. Shanghai Shenhua Holdings Co, which is involved with wind power generation, rose 3.82 percent to 4.35 yuan. Jiangsu Sunshine Co, which deals with electric power and steam marketing, added 1.37 percent to 5.90 yuan. Zhejiang Jinggong Science & Technology Co Ltd surged 8.20 percent to 14.25 yuan.
The benchmark Shanghai Composite Index dipped 0.50 percent, or 13.02 points, to close at 2,597.60 points. Gainers outnumbered losers 465 to 336 while 107 remained unchanged. Turnover was 99.1 billion yuan (US$14.5 billion).
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.17 percent to close at 876.58 points.
PetroChina and coal producers dropped and led the market down after oil prices slid 1.6 percent overnight. PetroChina, the largest oil producer and the biggest component index, retreated 2.35 percent to 12.86 yuan.
China Shenhua Energy Co, Asia's largest coal producer, lowered 2.06 percent to 26.09 yuan. Datong Coal industry Co, China's second-largest coal company by capacity, lost 2.88 percent to 35.79 yuan. Pindingshan Tian'an Coal Mining Co lowered 3.25 percent to 34.22 yuan.
Banks showed mixed results. Industrial & Commercial Bank of China, the nation's biggest lender, edged up 0.47 percent to 4.26 yuan. Bank of Communications lost 1.26 percent to 7.05 yuan. China Construction Bank was up 0.22 percent to 4.50 yuan. Bank of China rose 0.28 percent to 3.53 yuan.
The green energy sector bucked the downward trend as the government pledged to support the green energy industry to stimulate the country's economy. Shanghai Shenhua Holdings Co, which is involved with wind power generation, rose 3.82 percent to 4.35 yuan. Jiangsu Sunshine Co, which deals with electric power and steam marketing, added 1.37 percent to 5.90 yuan. Zhejiang Jinggong Science & Technology Co Ltd surged 8.20 percent to 14.25 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.
