Related News
Property, banks drag down index
By Ding Yining and Feng Jianmin |
April 12, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S stock market closed lower today as property shares and the banking sector dropped after the country's banking watchdog urged stricter scrutiny for credit on land and home purchases.
The benchmark Shanghai Composite Index lost 0.51 percent, or 16.09 points, to close at 3,129.26 points. Turnover was 176.5 billion yuan( US$13.4 billion). Gainers outnumbered losers by 489 to 409, and 152 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, gained 0.22 percent to close at 1,252.66 points.
Liu Mingkang, chairman of the China Banking Regulatory Commission, had urged all banks to increase awareness of financial risks and use a credibility ranking system to choose borrowers.
The China Banking Regulatory Commission said on its Website on Sunday that the downpayment for a second or third house sale should be over 40 percent.
Liu also said at the Boao Forum for Asia over the weekend that lenders had the right to reject loan requests from property speculators.
Property shares extended previous losses. China Vanke Co, the nation's largest listed real estate developer, sank 2.02 percent to 9.20 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 2.43 percent to 22.84 yuan. Gemdale Corporation tumbled 4.92 percent to 12.94 yuan.
Banking shares were also weak. Industrial & Commercial Bank of China, the nation's biggest lender, lost 1.01 percent to 4.92 yuan. Bank of Communications dropped 1.69 percent to 8.12 yuan. China Merchants Bank Co retreated 1 percent to 15.88 yuan. Shanghai Pudong Development Bank eased 2.22 percent to 22.43 yuan.
Metal producers showed mixed results. Zhongjin Gold Mining Co added 3.87 percent to 52.04 yuan. Zijin Gold Mining Co edged up 2.97 percent to 8.66 yuan. Jiangxi Copper was down 0.46 percent to 37.13 yuan. Beijing Shougang Co lost 1.92 percent to 5.10.
Airlines bucked the downward trend as the prospect of a rising yuan may reduce their debt and rental costs. China Southern Airlines Co soared 9.21 percent to 9.13 yuan. Air China jumped 5.54 percent to close at 14.29.
The benchmark Shanghai Composite Index lost 0.51 percent, or 16.09 points, to close at 3,129.26 points. Turnover was 176.5 billion yuan( US$13.4 billion). Gainers outnumbered losers by 489 to 409, and 152 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, gained 0.22 percent to close at 1,252.66 points.
Liu Mingkang, chairman of the China Banking Regulatory Commission, had urged all banks to increase awareness of financial risks and use a credibility ranking system to choose borrowers.
The China Banking Regulatory Commission said on its Website on Sunday that the downpayment for a second or third house sale should be over 40 percent.
Liu also said at the Boao Forum for Asia over the weekend that lenders had the right to reject loan requests from property speculators.
Property shares extended previous losses. China Vanke Co, the nation's largest listed real estate developer, sank 2.02 percent to 9.20 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 2.43 percent to 22.84 yuan. Gemdale Corporation tumbled 4.92 percent to 12.94 yuan.
Banking shares were also weak. Industrial & Commercial Bank of China, the nation's biggest lender, lost 1.01 percent to 4.92 yuan. Bank of Communications dropped 1.69 percent to 8.12 yuan. China Merchants Bank Co retreated 1 percent to 15.88 yuan. Shanghai Pudong Development Bank eased 2.22 percent to 22.43 yuan.
Metal producers showed mixed results. Zhongjin Gold Mining Co added 3.87 percent to 52.04 yuan. Zijin Gold Mining Co edged up 2.97 percent to 8.66 yuan. Jiangxi Copper was down 0.46 percent to 37.13 yuan. Beijing Shougang Co lost 1.92 percent to 5.10.
Airlines bucked the downward trend as the prospect of a rising yuan may reduce their debt and rental costs. China Southern Airlines Co soared 9.21 percent to 9.13 yuan. Air China jumped 5.54 percent to close at 14.29.
- 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.
