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Property and banking shares dip
By Ding Yining |
April 20, 2010, Tuesday
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Online Edition
Online Edition
SHANGHAI'S stock market closed almost unchanged today after a day of fluctuation, as investors remained cautious after yesterday's plunge.
The benchmark Shanghai Composite Index fell 0.03 percent, or 0.77 points, to close at 2,979.53 points. Turnover was 127.1 billion yuan (US$18.6 billion). Losers outnumbered gainers by 600 to 315 and 189 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.34 percent to close at 1,179.28 points.
The Ministry of Housing and Urban-Rural Development has ordered developers not to take deposits for sales of uncompleted apartments without approval in a bid to prevent a property bubble, according to a statement on its Website today.
Developers must disclose to the public all apartments available and prices, and start selling within 10 days of getting pre-sale approval, it said.
Property and banking shares extended previous losses. COFCO Property Group Co dived 5.07 percent to 7.86 yuan. China Vanke Co, the nation's largest listed real estate developer, retreated 3.25 percent to 8.03 yuan. China Merchants Property Development Co Ltd lost 5.76 percent to 18.01 yuan.
Industrial Bank retreated 2.41 percent to 30.33 yuan. China Merchants Bank Co lost 1.43 percent to 14.48 yuan. Shanghai Pudong Development Bank fell 0.1 percent to 20.54 yuan.
Baoshan Iron and Steel Co, China's biggest steel maker, dropped 3.51 percent to 6.88 yuan. Wuhan Iron & Steel lost 2.26 percent to 6.05 yuan.
Metal producers and pharmaceutical companies partly pared the losses. Zijin Gold Mining Co was up 1.81 percent to 8.46 yuan. Jiangxi Copper added 1.29 percent to 35.29 yuan. Aluminum Corporation of China gained 0.33 percent to 12.32 yuan. Ningbo Fubang Jingye Group lost 1.91 percent to 9.74 yuan.
Jiangzhong Pharmaceutical Co went up 2.71 percent to 32.95 yuan. Shandong Dong-E Ejiao Co jumped 6.64 percent to 33.87 yuan. Harbin Pharmaceutical Group soared 8.01 percent to 21.97 yuan.
Pharmaceutical companies will benefit from healthcare reforms this year, said a note by Donghai Securities.
The benchmark Shanghai Composite Index fell 0.03 percent, or 0.77 points, to close at 2,979.53 points. Turnover was 127.1 billion yuan (US$18.6 billion). Losers outnumbered gainers by 600 to 315 and 189 shares remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, edged up 0.34 percent to close at 1,179.28 points.
The Ministry of Housing and Urban-Rural Development has ordered developers not to take deposits for sales of uncompleted apartments without approval in a bid to prevent a property bubble, according to a statement on its Website today.
Developers must disclose to the public all apartments available and prices, and start selling within 10 days of getting pre-sale approval, it said.
Property and banking shares extended previous losses. COFCO Property Group Co dived 5.07 percent to 7.86 yuan. China Vanke Co, the nation's largest listed real estate developer, retreated 3.25 percent to 8.03 yuan. China Merchants Property Development Co Ltd lost 5.76 percent to 18.01 yuan.
Industrial Bank retreated 2.41 percent to 30.33 yuan. China Merchants Bank Co lost 1.43 percent to 14.48 yuan. Shanghai Pudong Development Bank fell 0.1 percent to 20.54 yuan.
Baoshan Iron and Steel Co, China's biggest steel maker, dropped 3.51 percent to 6.88 yuan. Wuhan Iron & Steel lost 2.26 percent to 6.05 yuan.
Metal producers and pharmaceutical companies partly pared the losses. Zijin Gold Mining Co was up 1.81 percent to 8.46 yuan. Jiangxi Copper added 1.29 percent to 35.29 yuan. Aluminum Corporation of China gained 0.33 percent to 12.32 yuan. Ningbo Fubang Jingye Group lost 1.91 percent to 9.74 yuan.
Jiangzhong Pharmaceutical Co went up 2.71 percent to 32.95 yuan. Shandong Dong-E Ejiao Co jumped 6.64 percent to 33.87 yuan. Harbin Pharmaceutical Group soared 8.01 percent to 21.97 yuan.
Pharmaceutical companies will benefit from healthcare reforms this year, said a note by Donghai Securities.
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