Shanghai index dips as US debt crisis looms
By Lydia Chen |
July 30, 2011, Saturday
|
Print Edition
Print Edition
SHARES in Shanghai yesterday fell for a second straight day, sending the benchmark index to the biggest weekly drop in two months, as blue chips continued to decline amid increasing concerns over the US debt crisis.
The Shanghai Composite Index shed 0.3 percent to 2,701.73. The index lost 2.5 percent this week, the most since the five-day period through May 27.
Coal and metal producers were among the largest drags yesterday while oil producers also weighed on the market after oil futures headed for the first weekly decline in five weeks amid concerns that US lawmakers will fail to reach an agreement to raise the country's debt limit. The failure to reach an agreement by the deadline next Tuesday would likely have global repercussions and have a detrimental effect on China's economy.
Yanzhou Coal Mining sank 2.8 percent to 32.55 yuan. Jiangxi Copper declined 2.3 percent to close at 36.08 yuan. PetroChina declined 1 percent to 10.68 yuan.
The Shanghai Composite Index shed 0.3 percent to 2,701.73. The index lost 2.5 percent this week, the most since the five-day period through May 27.
Coal and metal producers were among the largest drags yesterday while oil producers also weighed on the market after oil futures headed for the first weekly decline in five weeks amid concerns that US lawmakers will fail to reach an agreement to raise the country's debt limit. The failure to reach an agreement by the deadline next Tuesday would likely have global repercussions and have a detrimental effect on China's economy.
Yanzhou Coal Mining sank 2.8 percent to 32.55 yuan. Jiangxi Copper declined 2.3 percent to close at 36.08 yuan. PetroChina declined 1 percent to 10.68 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.
