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Shanghai index dips 0.18% in morning trading
By Ye Zhen |
March 8, 2013, Friday
|
Online Edition
Online Edition
SHANGHAI stocks declined this morning after data showed China's trade surplus narrowed in February.
The key Shanghai Composite Index fell 0.18 percent to 2,320 points. Turnover was 49.1 billion yuan (US$7.9 billion) by the midday break.
China posted a trade surplus of US$15.3 billion in February, down from January's surplus of US$29.2 billion, data from the General Administration of Customs showed this morning.
Exports rose 21.8 percent to US$139.4 billion while imports fell 15.2 percent to US$124.1 billion in February, the Customs said.
Most property developers languished after The Securities Times said China may increase the down-payment requirement for second homes to 70 percent and raise the interest rate of mortgage loans to 1.3 times the benchmark interest in some cities where home prices are surging.
Poly Real Estate, China's second largest developer, lost 0.1 percent to 11.36 yuan. Gemdale Corporation shed 0.6 percent to 6.37 yuan.
Brokerages also declined. CITIC Securities, China's biggest listed broker, decreased 1.3 percent to 13.60 yuan. Haitong Securities lost 2.6 percent to 11.72 yuan. China Merchants Securities Co fell 2.6 percent to 13.72 yuan.
The key Shanghai Composite Index fell 0.18 percent to 2,320 points. Turnover was 49.1 billion yuan (US$7.9 billion) by the midday break.
China posted a trade surplus of US$15.3 billion in February, down from January's surplus of US$29.2 billion, data from the General Administration of Customs showed this morning.
Exports rose 21.8 percent to US$139.4 billion while imports fell 15.2 percent to US$124.1 billion in February, the Customs said.
Most property developers languished after The Securities Times said China may increase the down-payment requirement for second homes to 70 percent and raise the interest rate of mortgage loans to 1.3 times the benchmark interest in some cities where home prices are surging.
Poly Real Estate, China's second largest developer, lost 0.1 percent to 11.36 yuan. Gemdale Corporation shed 0.6 percent to 6.37 yuan.
Brokerages also declined. CITIC Securities, China's biggest listed broker, decreased 1.3 percent to 13.60 yuan. Haitong Securities lost 2.6 percent to 11.72 yuan. China Merchants Securities Co fell 2.6 percent to 13.72 yuan.
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