Related News
Shanghai shares drop led by steel makers and developers
By Ding Yining |
April 8, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S stock market closed lower in the morning session as weak performance of steel producers and property shares dragged down the index.
The benchmark Shanghai Composite Index was down 0.40 percent, or 11.98 points, to close at 3,136.24 points. Turnover was 69.5 billion yuan(US$10.2 billion). Losers outnumbered gainers 480 to 373, and 67 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.04 percent to close at 1,240.26 points.
The Shanghai Securities News reported today that the city is working on a plan to introduce house ownership tax to curb surging property prices and prevent speculation, citing an unnamed expert in the Finance Institute of Chinese Academy of Social Sciences.
Property shares extended previous losses. China Vanke Co, the nation's largest listed real estate developer, was down 1.16 percent to 9.35 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 0.81 percent to 23.37 yuan. Poly Real Estate Group sank 3.03 percent to 19.54 yuan.
Baoshan Iron and Steel Co, China's biggest steel maker, dropped 2.01 percent to 7.79 yuan. Wuhan Iron & Steel lost 1.18 percent to 6.69 yuan.
Banking shares were also flat. Industrial Bank lost 1.28 percent to 36.24 yuan. Bank of Communications was down 0.83 percent to 8.32 yuan. China Merchants Bank Co retreated 1.41 percent to 16.03 yuan.
Metal producers showed mixed results. Zijin Gold Mining Co was down 0.47 percent to 8.43 yuan. Jiangxi Copper lost 1.09 percent to 37.24 yuan. Nanjing Yunhai Special Metals Co added 1.42 percent to 15.68 yuan.
The benchmark Shanghai Composite Index was down 0.40 percent, or 11.98 points, to close at 3,136.24 points. Turnover was 69.5 billion yuan(US$10.2 billion). Losers outnumbered gainers 480 to 373, and 67 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, dipped 0.04 percent to close at 1,240.26 points.
The Shanghai Securities News reported today that the city is working on a plan to introduce house ownership tax to curb surging property prices and prevent speculation, citing an unnamed expert in the Finance Institute of Chinese Academy of Social Sciences.
Property shares extended previous losses. China Vanke Co, the nation's largest listed real estate developer, was down 1.16 percent to 9.35 yuan. Shanghai Lujiazui Finance & Trade Zone Development Co Ltd lost 0.81 percent to 23.37 yuan. Poly Real Estate Group sank 3.03 percent to 19.54 yuan.
Baoshan Iron and Steel Co, China's biggest steel maker, dropped 2.01 percent to 7.79 yuan. Wuhan Iron & Steel lost 1.18 percent to 6.69 yuan.
Banking shares were also flat. Industrial Bank lost 1.28 percent to 36.24 yuan. Bank of Communications was down 0.83 percent to 8.32 yuan. China Merchants Bank Co retreated 1.41 percent to 16.03 yuan.
Metal producers showed mixed results. Zijin Gold Mining Co was down 0.47 percent to 8.43 yuan. Jiangxi Copper lost 1.09 percent to 37.24 yuan. Nanjing Yunhai Special Metals Co added 1.42 percent to 15.68 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.
