Related News
Shanghai market falls in morning session
By Pan Xiaoyi |
November 26, 2009, Thursday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell in the morning session, led by lenders on concerns that lower capital adequacy ratio resulting from explosive lending so far will push them to large financing plans.
The benchmark Shanghai Composite Index lost 1.02 percent, or 33.56 points, to close at 3,256.61 points. Turnover stood at 130.6 billion yuan (US$19.2 billion) at midday break. Losers outnumbered gainers 649 to 214, and 12 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.76 percent to close at 1,204.97 points.
Lenders continued the losing streak. Bank of China withdrew 1.6 percent to 4.21 yuan. Shanghai Pudong Development Bank lowered 2.6 percent to 22.58 yuan. China Construction Bank eased 2.5 percent to close at 5.98 yuan. China Merchants Bank Co retreated 2.9 percent to 17.54 yuan.
"In case state-owned banks accelerated fund-raising to replenish their capital on decreasing capital adequacy ratio, that will pose huge pressure on the stock market's liquidity," said Wu Yonggang, a Guotai Juan'an Securities Co analyst.
Travel agencies had mixed performance after the State Council, China's Cabinet, approved a plan to promote the development of China's tourism business. China International Travel Service Corp slid 2 percent to 20.49 yuan. Tibet Tourism Co was off 2.6 percent to 10.71 yuan while Beijing Capital Tourism Co climbed 1.6 percent to 23.29 yuan. China United Travel Co jumped by 10 percent daily cap to 7.25 yuan.
Nonferrous metals bucked the downward trend on rising metal prices. Jiangxi Copper Co added 2.5 percent to 44.97 yuan. Yunnan Chihong Zinc & Germanium Co surged 6 percent to 33.29 yuan.
The benchmark Shanghai Composite Index lost 1.02 percent, or 33.56 points, to close at 3,256.61 points. Turnover stood at 130.6 billion yuan (US$19.2 billion) at midday break. Losers outnumbered gainers 649 to 214, and 12 stocks remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.76 percent to close at 1,204.97 points.
Lenders continued the losing streak. Bank of China withdrew 1.6 percent to 4.21 yuan. Shanghai Pudong Development Bank lowered 2.6 percent to 22.58 yuan. China Construction Bank eased 2.5 percent to close at 5.98 yuan. China Merchants Bank Co retreated 2.9 percent to 17.54 yuan.
"In case state-owned banks accelerated fund-raising to replenish their capital on decreasing capital adequacy ratio, that will pose huge pressure on the stock market's liquidity," said Wu Yonggang, a Guotai Juan'an Securities Co analyst.
Travel agencies had mixed performance after the State Council, China's Cabinet, approved a plan to promote the development of China's tourism business. China International Travel Service Corp slid 2 percent to 20.49 yuan. Tibet Tourism Co was off 2.6 percent to 10.71 yuan while Beijing Capital Tourism Co climbed 1.6 percent to 23.29 yuan. China United Travel Co jumped by 10 percent daily cap to 7.25 yuan.
Nonferrous metals bucked the downward trend on rising metal prices. Jiangxi Copper Co added 2.5 percent to 44.97 yuan. Yunnan Chihong Zinc & Germanium Co surged 6 percent to 33.29 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
