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Shanghai index down ahead of data release
By Lydia Chen |
March 10, 2011, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks edged lower today for the first time in five trading days as blue chips weighed on the market with investors running for profit taking before China is about to release February's economic data tomorrow.
The Shanghai Composite Index lost 1.5 percent to 2,957.14. Turnover edged up to 166.47 billion from yesterday's 165.32 billion yuan(US$25.20 billion).
Coal producers were the most bruised sector today as oil prices settled lower in the world market after a key United States government report showed petroleum supplies in the country increased last week.
A gauge that tracks the performances of the coal mining industry showed the sector erased 3.67 percent today, followed by a fall of 3.01 percent for insurers and a 2.94 percent decrease for brokerages.
Yanzhou Coal Mining Co sank 5.12 percent to 31.87 yuan. Guizhou Panjiang Refined Coal Co lost 5.80 percent to 37.02 yuan.
The Shanghai Composite Index lost 1.5 percent to 2,957.14. Turnover edged up to 166.47 billion from yesterday's 165.32 billion yuan(US$25.20 billion).
Coal producers were the most bruised sector today as oil prices settled lower in the world market after a key United States government report showed petroleum supplies in the country increased last week.
A gauge that tracks the performances of the coal mining industry showed the sector erased 3.67 percent today, followed by a fall of 3.01 percent for insurers and a 2.94 percent decrease for brokerages.
Yanzhou Coal Mining Co sank 5.12 percent to 31.87 yuan. Guizhou Panjiang Refined Coal Co lost 5.80 percent to 37.02 yuan.
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