Related News
Shanghai shares drop amid concerns of tightening
By Ding Yining |
March 15, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S key stock barometer dropped below 3,000 points in the morning session, amid concerns there will be tightening measures in the near future to curb inflationary risks.
The benchmark Shanghai Composite Index lost 1.16 percent, or 34.91 points, to close at 2,978.51 points. Turnover was 40.9 billion yuan(US$6.0 billion). Losers outnumbered gainers 672 to 193, and 53 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dropped 1.16 percent to close at 1,134.16 points.
Premier Wen Jiabao told a press conference in Beijing yesterday that the government should strike a balance between maintaining economic growth, adjusting economic development model and managing inflation expectation this year.
Central bank governor Zhou Xiaochuan said at a separate new conference that the current price level is higher than the expectation of the central bank and an interest rate rise will depend on the outlook of the price changes.
Industrial & Commercial Bank of China, the nation's biggest lender, was down 0.82 percent to 4.82 yuan. Shanghai Pudong Development Bank dropped 1.19 percent to 20.79 yuan. China Construction Bank lost 1.43 percent to close at 5.53 yuan.
China Merchants Bank said it sold 2 billion A shares in a rights offer at 8.85 yuan each and raised 17.76 billion yuan. The stock lost 1.18 percent to 15.10 yuan.
Property shares showed mixed results. China Vanke Co, the biggest listed domestic real estate developer, was down 0.96 percent to 9.27 yuan. Gemdale Corporation was up 0.98 percent to 13.34 yuan. Poly Real Estate Group edged up 0.15 percent to 19.48 yuan.
China Shenhua Energy Co said profit climbed 19 percent to 31.7 billion yuan but missed the 33.1-billion yuan average estimate by analysts. Its shares dropped 2.02 percent to 28.19 yuan.
Metal producers also closed lower after gold dropped 2.48 percent in the previous week amid weak consumer confidence. Shandong Gold Mining Co lost 0.97 percent to 68.10 yuan. Yunnan Copper Co fell 2.62 percent to 24.86 yuan. Jiangxi Copper Co was down 1.98 percent to 34.18 yuan.
The benchmark Shanghai Composite Index lost 1.16 percent, or 34.91 points, to close at 2,978.51 points. Turnover was 40.9 billion yuan(US$6.0 billion). Losers outnumbered gainers 672 to 193, and 53 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dropped 1.16 percent to close at 1,134.16 points.
Premier Wen Jiabao told a press conference in Beijing yesterday that the government should strike a balance between maintaining economic growth, adjusting economic development model and managing inflation expectation this year.
Central bank governor Zhou Xiaochuan said at a separate new conference that the current price level is higher than the expectation of the central bank and an interest rate rise will depend on the outlook of the price changes.
Industrial & Commercial Bank of China, the nation's biggest lender, was down 0.82 percent to 4.82 yuan. Shanghai Pudong Development Bank dropped 1.19 percent to 20.79 yuan. China Construction Bank lost 1.43 percent to close at 5.53 yuan.
China Merchants Bank said it sold 2 billion A shares in a rights offer at 8.85 yuan each and raised 17.76 billion yuan. The stock lost 1.18 percent to 15.10 yuan.
Property shares showed mixed results. China Vanke Co, the biggest listed domestic real estate developer, was down 0.96 percent to 9.27 yuan. Gemdale Corporation was up 0.98 percent to 13.34 yuan. Poly Real Estate Group edged up 0.15 percent to 19.48 yuan.
China Shenhua Energy Co said profit climbed 19 percent to 31.7 billion yuan but missed the 33.1-billion yuan average estimate by analysts. Its shares dropped 2.02 percent to 28.19 yuan.
Metal producers also closed lower after gold dropped 2.48 percent in the previous week amid weak consumer confidence. Shandong Gold Mining Co lost 0.97 percent to 68.10 yuan. Yunnan Copper Co fell 2.62 percent to 24.86 yuan. Jiangxi Copper Co was down 1.98 percent to 34.18 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.
