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Shanghai market dips at midday as lenders, developers fall
By Joyce Pan |
August 10, 2009, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock index ended slightly lower in the morning session, led by sluggish lenders and property developers.
The benchmark Shanghai Composite Index dipped 0.24 percent, or 7.69 points, to close at 3,253 points, extending the biggest weekly loss since February.
Turnover stood at 77.83 billion yuan (US$11.45 billion) at midday break. Gainers outnumbered losers 488 to 344 and 36 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.15 percent to close at 1,088.83 points.
Poly Real Estate Group Co lost 2.99 percent to 25.63 yuan.
Gemdale Corp slid 3.57 percent to 16.21 yuan. Shanghai-based Shimao Co eased 1.44 percent to 15.75 yuan. Shanghai Waigaoqiao Free Trade Zone dropped 1.57 percent to 18.21 yuan.
Shanghai Pudong Development Bank Co retreated 1.17 percent to 24.58 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, inched down 0.2 percent to 5.08 yuan. China Construction Bank withdrew 0.98 percent to close at 6.05 yuan. Bank of China decreased 0.91 percent to 4.34 yuan.
Bucking the downward trend, copper producers gained on higher copper futures. Aluminum Corporation of China, the nation's biggest maker of the lightweight metal, added 1.37 percent to 17.72 yuan. Yunnan Copper gained 1.3 percent to 32.72 yuan. Jiangxi Copper climbed 0.26 percent to 42.28 yuan.
The benchmark Shanghai Composite Index dipped 0.24 percent, or 7.69 points, to close at 3,253 points, extending the biggest weekly loss since February.
Turnover stood at 77.83 billion yuan (US$11.45 billion) at midday break. Gainers outnumbered losers 488 to 344 and 36 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was up 0.15 percent to close at 1,088.83 points.
Poly Real Estate Group Co lost 2.99 percent to 25.63 yuan.
Gemdale Corp slid 3.57 percent to 16.21 yuan. Shanghai-based Shimao Co eased 1.44 percent to 15.75 yuan. Shanghai Waigaoqiao Free Trade Zone dropped 1.57 percent to 18.21 yuan.
Shanghai Pudong Development Bank Co retreated 1.17 percent to 24.58 yuan. Industrial & Commercial Bank of China, the nation's biggest lender, inched down 0.2 percent to 5.08 yuan. China Construction Bank withdrew 0.98 percent to close at 6.05 yuan. Bank of China decreased 0.91 percent to 4.34 yuan.
Bucking the downward trend, copper producers gained on higher copper futures. Aluminum Corporation of China, the nation's biggest maker of the lightweight metal, added 1.37 percent to 17.72 yuan. Yunnan Copper gained 1.3 percent to 32.72 yuan. Jiangxi Copper climbed 0.26 percent to 42.28 yuan.
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