Related News
Shanghai index sinks nearly 3%
SHANGHAI'S key stock barometer couldn't sustain the rallies of previous days and sank nearly 3 percent yesterday amid a broad sell-off to post the biggest single-day drop in nearly 2 months.
The Shanghai Composite Index lost 2.93 percent, or 69.95 points, to close at 2,319.44 points, after hitting an intraday high of 2,402.81 points.
Losers outnumbered gainers 761 to 118 while 3 stocks remained unchanged. Turnover shrank a little to 169.2 billion yuan (US$24.88 billion), from 177.9 billion yuan on Monday.
Shares opened lower in the wake of declines in surrounding markets. But the weak performance of heavy-weighted shares led the local stock market to fall even further in the afternoon and a broad sell-off among investors punctured the benchmark index.
"Fluctuations of the blue chips restricted the index's rebound," United Securities Co wrote in a research note. "Trade volume stayed at a high level, signaling that investors hold different views on the future trend."
Property shares led the losses as hopes of an interest rate cut fizzled.
Gemdale Corp, a partner of ING Group NV, dived 6.78 percent to 8.53 yuan. Shimao Property Co slid 5.59 percent to 9.29 yuan while Poly Real Estate Group Co shed 4.44 percent to 18.3 yuan.
The Shanghai Composite Index lost 2.93 percent, or 69.95 points, to close at 2,319.44 points, after hitting an intraday high of 2,402.81 points.
Losers outnumbered gainers 761 to 118 while 3 stocks remained unchanged. Turnover shrank a little to 169.2 billion yuan (US$24.88 billion), from 177.9 billion yuan on Monday.
Shares opened lower in the wake of declines in surrounding markets. But the weak performance of heavy-weighted shares led the local stock market to fall even further in the afternoon and a broad sell-off among investors punctured the benchmark index.
"Fluctuations of the blue chips restricted the index's rebound," United Securities Co wrote in a research note. "Trade volume stayed at a high level, signaling that investors hold different views on the future trend."
Property shares led the losses as hopes of an interest rate cut fizzled.
Gemdale Corp, a partner of ING Group NV, dived 6.78 percent to 8.53 yuan. Shimao Property Co slid 5.59 percent to 9.29 yuan while Poly Real Estate Group Co shed 4.44 percent to 18.3 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$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.