PBOC鈥檚 stance pulls index lower
Print Edition
Shanghai stocks fell yesterday after China’s central bank signaled a tighter monetary stance to combat rising inflationary pressure, and banks felt the brunt of its decision.
The Shanghai Composite Index lost 0.82 percent to end at 2,139.61 points.
China will maintain a prudent monetary stance and balance between adjusting its economic structure, undertaking reform and curbing risks, the People’s Bank of China said in its third-quarter currency policy committee report.
The PBOC warned inflation is likely to gain in the fourth quarter on rising labor and service costs and costlier rents.
The PBOC also said the economy may experience de-leveraging and capacity reduction over a long period and there are also problems in the real estate sector and local government debts.
Premier Li Keqiang said pumping more money will lead to inflation as there is sufficient liquidity in the economy.
“The PBOC report indicated deep concerns of the central bank over economic growth and inflation outlook and signaled a tighter stance on monetary policy,” Xu Gao, analyst with Everbright Securities, said in a report yesterday.
Shanghai Pudong Development Bank lost 1.7 percent to 10.03 yuan (US$1.65). The Industrial Bank dropped 2.6 percent to 11.19 yuan. China Minsheng Banking Corp shed 1.9 percent to 8.90 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.
