Related News
Shanghai index hurt by rising cash rates
Online Edition
Shanghai stocks drifted lower as money costs climbed after the central bank suspended liquidity injection today.
The benchmark Shanghai Composite Index lost 0.48 percent to 2,129.40 points. Turnover was 70.2 billion yuan (US$11.5 billion) at the trading close.
The People’s Bank of China today halted its open market operation after pumping 8 billion yuan into the money market through seven-day reverse repurchase agreements on Tuesday. The suspension will lead to a net withdrawal of 5 billion yuan from the market this week.
The seven-day repurchase rate increased 2.5 basis points to 3.89 percent in Shanghai today while the overnight rate added 7 basis points to 3.73 percent.
Wang Yi, analyst with the Great Wall Securities, said the central bank is expected to maintain a steady and slightly tight monetary policy.
Brokerages declined after data showed the gross profit of 16 listed securities companies shrank 63 percent month-on-month to 970 million yuan in October. Haitong Securities lost 2.9 percent to 10.97 yuan after reporting a 64.5 percent slump in October profit while Soochow Securities Co dropped 0.8 percent to 7.38 yuan.
Food and beverage shares fell the most. Inner Mongolia Yili Industrial Group Co slumped 4.4 percent to 37.65 yuan. Bright Dairy & Food Co plunged 7.2 percent to 20.26 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
