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Shanghai market keeps declining in morning
By Lydia Chen |
April 26, 2011, Tuesday
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Online Edition
Online Edition
SHANGHAI stock market extended yesterday's tumble in the morning session today, with metal producers continued slump amid tight monetary concerns while China Life Insurance Co skipped over less-than-expected earning report.
The Shanghai Composite Index declined 0.92 percent to 2,937.73. Turnover shrank to 63.29 billion yuan (US$9.74 billion) from yesterday morning's 81.40 billion yuan.
Hotels and tourism-related shares erased yesterday's gains and paced the decline among all sectors with a fall of 4.35 percent. Tibet Tourism Co plunged 7.32 percent to 15.71 yuan.
Steel continued yesterday's weak performance in the early session. China's expectedly high inflation has aroused concerns that more tightening measures would hurt demands for construction materials such as steel and cement.
Jinan Iron & Steel Co plunged 9.97 percent to 6.32 yuan.
The Shanghai Composite Index declined 0.92 percent to 2,937.73. Turnover shrank to 63.29 billion yuan (US$9.74 billion) from yesterday morning's 81.40 billion yuan.
Hotels and tourism-related shares erased yesterday's gains and paced the decline among all sectors with a fall of 4.35 percent. Tibet Tourism Co plunged 7.32 percent to 15.71 yuan.
Steel continued yesterday's weak performance in the early session. China's expectedly high inflation has aroused concerns that more tightening measures would hurt demands for construction materials such as steel and cement.
Jinan Iron & Steel Co plunged 9.97 percent to 6.32 yuan.
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