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Shanghai index closes flat at 3,051
By Joyce Pan |
March 11, 2010, Thursday
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Online Edition
Online Edition
SHANGHAI'S key stock index remained almost flat today as shares showed mixed responses towards better than expected economic data in February.
The benchmark Shanghai Composite Index added 0.08 percent, or 2.36 points, to close at 3,051.28 points. Turnover shrank to 96.2 billion yuan (US$14.1 billion) from 98.7 billion yuan on Wednesday. Losers outnumbered gainers 585 to 281 and 29 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.12 percent to close at 1,163.45 points.
Consumer prices rose 2.7 percent from a year earlier, the National Bureau of Statistics said today, outpacing a 2.5-percent market expectation.
Property developers led the decliners after China tightened land purchase rules. Shanghai Lujiazui Finance & Trade Zone eased 2 percent to 23.31 yuan. Shanghai-based Shimao Co lowered 0.6 percent to 14.57 yuan. Poly Real Estate Group declined 0.7 percent to 19.77 yuan.
Auto makers extended the losses. Anhui Jianghuai Automobile Co retreated 4.7 percent to 10.71 yuan. SAIC Motor Corp withdrew 2.9 percent to 20.51 yuan and Beiqi Foton Motor Co lost 0.4 percent to 20.01 yuan. FAW Car Co decreased 3.3 percent to 22.53 yuan.
Elsewhere, Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, advanced 2.7 percent to 21.3 yuan after agreeing to sell shares to China Mobile.
The benchmark Shanghai Composite Index added 0.08 percent, or 2.36 points, to close at 3,051.28 points. Turnover shrank to 96.2 billion yuan (US$14.1 billion) from 98.7 billion yuan on Wednesday. Losers outnumbered gainers 585 to 281 and 29 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.12 percent to close at 1,163.45 points.
Consumer prices rose 2.7 percent from a year earlier, the National Bureau of Statistics said today, outpacing a 2.5-percent market expectation.
Property developers led the decliners after China tightened land purchase rules. Shanghai Lujiazui Finance & Trade Zone eased 2 percent to 23.31 yuan. Shanghai-based Shimao Co lowered 0.6 percent to 14.57 yuan. Poly Real Estate Group declined 0.7 percent to 19.77 yuan.
Auto makers extended the losses. Anhui Jianghuai Automobile Co retreated 4.7 percent to 10.71 yuan. SAIC Motor Corp withdrew 2.9 percent to 20.51 yuan and Beiqi Foton Motor Co lost 0.4 percent to 20.01 yuan. FAW Car Co decreased 3.3 percent to 22.53 yuan.
Elsewhere, Shanghai Pudong Development Bank Co, the Chinese partner of Citigroup Inc, advanced 2.7 percent to 21.3 yuan after agreeing to sell shares to China Mobile.
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