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Shanghai index flat on weak turnover
By Feng Jianmin |
March 30, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI stock market closed slightly lower today as trading continued to contract.
The Shanghai Composite Index dipped 0.08 percent to 2,955.77. Turnover shrank to 154.4 billion yuan (US$12.63 billion) from yesterday's 200 billion yuan.
Gold miners rebounded from yesterday's drop as gold bullion prices rose 0.53 yuan to 301.50 yuan per gram in Shanghai. Zhongjin Gold Corp rose 1.4 percent to 36.92 yuan while Shandong Gold Mining Co climbed 3.8 percent to 53.05 yuan.
Irrigation shares paced the decline. Chongqing Three Gorges Water Conservancy & Electric Power Co shed 5.7 percent to 19.34 yuan.
Cement makers, however, outperformed the market as a report by China International Capital Corp said a rebound could be expected in the sector as their profits are likely to stay high by next year.
Huaxin Cement Co added 2 percent to 50.21 yuan. Anhui Conch Cement Co climbed 5 percent to 41.01 yuan.
The Shanghai Composite Index dipped 0.08 percent to 2,955.77. Turnover shrank to 154.4 billion yuan (US$12.63 billion) from yesterday's 200 billion yuan.
Gold miners rebounded from yesterday's drop as gold bullion prices rose 0.53 yuan to 301.50 yuan per gram in Shanghai. Zhongjin Gold Corp rose 1.4 percent to 36.92 yuan while Shandong Gold Mining Co climbed 3.8 percent to 53.05 yuan.
Irrigation shares paced the decline. Chongqing Three Gorges Water Conservancy & Electric Power Co shed 5.7 percent to 19.34 yuan.
Cement makers, however, outperformed the market as a report by China International Capital Corp said a rebound could be expected in the sector as their profits are likely to stay high by next year.
Huaxin Cement Co added 2 percent to 50.21 yuan. Anhui Conch Cement Co climbed 5 percent to 41.01 yuan.
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