Related News
Shanghai shared dip in weak trading this morning
Online Edition
Shanghai stocks edged lower this morning as small-cap shares continued a weak run amid concerns over a flood of new shares. Financial counters also declined after a strong rally yesterday.
The benchmark Shanghai Composite Index shed 0.08 percent, or 1.81 points, to 2,205.56. Turnover was 52.8 billion yuan (US$8.7 billion) by midday.
“The reform of the initial public offering system is much bolder than expectation and the IPO reboot is also sooner than expectation,” said Shenyin & Wanguo Securities in a note. “The market needs time to digest the impact.”
China’s securities regulator said on Saturday that about 50 companies are ready to go public in January, ending a 13-month moratorium on new listings.
The ChiNext Index, a gauge of China’s Nasdaq-style growth board in Shenzhen, fell 1.4 percent this morning, adding to a record slump of 8.3 percent yesterday, as most of the new IPOs will get listed on the board.
Small caps on the Shanghai market also fell. Beijing Zhongchuang Telecom Test Co Ltd slumped 4.6 percent to 21.65 yuan. Chengdu B-ray Media Co Ltd skidded 4.3 percent to 17.70 yuan.
Brokerages dropped as investors locked in profits after a surge yesterday. CITIC Securities, China’s biggest broker, fell 2.1 percent to 13.28 yuan. Haitong Securities lost 1.8 percent to 12.19 yuan. Sinolink Securities Co Ltd shrank 3.4 percent to 16.55 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.
