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Shanghai index dips below 2,700 for 1st in 6 months
By Lydia Chen |
June 16, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI stock market extended losses in the morning session today, with the benchmark index falling below the 2,700-point mark for the first time in almost six months.
The Shanghai Composite Index lost 0.97 percent to 2,679.13. Turnover shrank to 39.37 billion yuan (US$6.09 billion).
Most sectors decreased in the early trading except cement makers. Second-tier blue chips such as agriculture and road and bridge builders paced the fall.
The cross-board gloomy performances came as analysts suggested investors sit aside because the market may see further tumbles under rising inflation and monetary tightening.
Market heavyweight PetroChina was down 1.28 percent to 10.78 yuan. Inner Mongolia Yili Group slumped 4.26 percent to 15.51 yuan, extending previous losses over a reported corruption scandal of its chairman.
Sinolink Securities said China's tightening measures are expected to stay in place in a short term, which could hurt investors' confidence in the stock market.
Investors had better remain wary in the thin-trading market and carefully control their exposure to stocks, the brokerage said in a note this morning.
The Shanghai Composite Index lost 0.97 percent to 2,679.13. Turnover shrank to 39.37 billion yuan (US$6.09 billion).
Most sectors decreased in the early trading except cement makers. Second-tier blue chips such as agriculture and road and bridge builders paced the fall.
The cross-board gloomy performances came as analysts suggested investors sit aside because the market may see further tumbles under rising inflation and monetary tightening.
Market heavyweight PetroChina was down 1.28 percent to 10.78 yuan. Inner Mongolia Yili Group slumped 4.26 percent to 15.51 yuan, extending previous losses over a reported corruption scandal of its chairman.
Sinolink Securities said China's tightening measures are expected to stay in place in a short term, which could hurt investors' confidence in the stock market.
Investors had better remain wary in the thin-trading market and carefully control their exposure to stocks, the brokerage said in a note this morning.
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