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
Property and export fears depress market
By Pan Xiaoyi |
April 8, 2009, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell in the morning session as developers retreated on concerns that property prices will fail to recover and after a report said exports declined further in March.
The benchmark Shanghai Composite Index edged down 2.01 percent, or 49.09 points, to close at 2,390.09 points.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.4 percent to close at 795.72 points.
Gemdale Corp, a Chinese developer that's setting up a real-estate venture with UBS AG, lost 3.4 percent after real estate broker E-House (China) Holding Ltd said housing prices will be stagnant through 2010. Poly Real Estate Group Co, China's second-largest developer by market value, lowered 2.09 percent to 220.7 yuan despite saying first-quarter sales almost trebled from the same period last year to 6.48 billion yuan.
China will release a stack of economic data including figures on first-quarter economic growth, trade and money supply from tomorrow.
China's exports fell by at least 10 percent in March from a year earlier, the International Business Daily reported today, citing an unidentified official from the Ministry of Commerce.
China's new bank loans reached a record 1.87 trillion yuan in March, Market News International reported yesterday, citing unidentified people. Total lending for the first quarter rose to 4.56 trillion yuan, almost as much as the government's target of at least 5 trillion yuan of lending this year, it said.
China Life Insurance Co, the nation's biggest insurer, eased 2.4 percent to 23.17 yuan. Ping An Insurance (Group) Co, the No. 2, slid 2.44 percent to 39.62 yuan.
China will let life insurance companies invest up to 6 percent of their assets at the end of the previous quarter in infrastructure projects, the insurance regulator said yesterday. Insurers will be allowed to buy mid-term notes and bonds issued by local governments, it said.
Baoji Titanium Industry Co, China's biggest producer of the metal, said first-quarter profit tumbled more than 50 percent from 104 million yuan (US$15 million) a year earlier because exports slumped and metal prices fell as the global economy slowed. The shares tumbled 4.98 percent to 19.47 yuan.
China Petroleum & Chemical Corp, Asia's biggest oil refiner, also known as Sinopec, posted a profit at its chemical-making business for the first two months of this year as some chemical product prices rebounded, parent China Petrochemical Corp said yesterday. The shares plunged 2.62 percent to 9.16 yuan.
The benchmark Shanghai Composite Index edged down 2.01 percent, or 49.09 points, to close at 2,390.09 points.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.4 percent to close at 795.72 points.
Gemdale Corp, a Chinese developer that's setting up a real-estate venture with UBS AG, lost 3.4 percent after real estate broker E-House (China) Holding Ltd said housing prices will be stagnant through 2010. Poly Real Estate Group Co, China's second-largest developer by market value, lowered 2.09 percent to 220.7 yuan despite saying first-quarter sales almost trebled from the same period last year to 6.48 billion yuan.
China will release a stack of economic data including figures on first-quarter economic growth, trade and money supply from tomorrow.
China's exports fell by at least 10 percent in March from a year earlier, the International Business Daily reported today, citing an unidentified official from the Ministry of Commerce.
China's new bank loans reached a record 1.87 trillion yuan in March, Market News International reported yesterday, citing unidentified people. Total lending for the first quarter rose to 4.56 trillion yuan, almost as much as the government's target of at least 5 trillion yuan of lending this year, it said.
China Life Insurance Co, the nation's biggest insurer, eased 2.4 percent to 23.17 yuan. Ping An Insurance (Group) Co, the No. 2, slid 2.44 percent to 39.62 yuan.
China will let life insurance companies invest up to 6 percent of their assets at the end of the previous quarter in infrastructure projects, the insurance regulator said yesterday. Insurers will be allowed to buy mid-term notes and bonds issued by local governments, it said.
Baoji Titanium Industry Co, China's biggest producer of the metal, said first-quarter profit tumbled more than 50 percent from 104 million yuan (US$15 million) a year earlier because exports slumped and metal prices fell as the global economy slowed. The shares tumbled 4.98 percent to 19.47 yuan.
China Petroleum & Chemical Corp, Asia's biggest oil refiner, also known as Sinopec, posted a profit at its chemical-making business for the first two months of this year as some chemical product prices rebounded, parent China Petrochemical Corp said yesterday. The shares plunged 2.62 percent to 9.16 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.
