Profit-taking ends 10-day winning streak
Print Edition
SHANGHAI stocks ended a 10-day winning streak yesterday as profit-taking in bank shares dragged down the market.
The Shanghai Composite Index lost 0.83 percent to finish at 3,660.73 points.
Guangzhou Wanlong Securities Consulting said investors took profits on blue chips that surged following the index’s winning streak in the past fortnight.
The Agricultural Bank of China fell 2.4 percent after it reported a drop in profit growth and a spike in bad loans amid a slowing economy.
The Industrial Bank shed 3.35 percent to 16.72 yuan (US$2.69), and China Everbright Bank lost 3.21 percent to 4.53 yuan.
Steel companies also fell after leading the surge on Tuesday. Lingyuan Iron & Steel Co fell 4.24 percent to 6.33 yuan, Baoshan Iron & Steel Co slid 4.22 percent to 7.04 yuan, Wuhan Iron & Steel Co lost 4.02 percent to 4.77 yuan, and Xinyu Iron & Steel Co shed 3.98 percent to 7.24 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.
