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Shanghai shares drop to the lowest in a week
By Feng Jianmin |
July 20, 2011, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index fell a third day, heading for the lowest in a week, led by property developers and gold miners.
The benchmark Shanghai Composite Index lost 0.1 percent to 2,794.21 points. Turnover fell to 100.2 billion yuan (US$15.5 billion) from yesterday's 110.7 billion yuan.
Gold miners fell after bullion prices fell to US$1,590 level from a 31-year high of US$1,610.6 per ounce. Shandong Gold Mining Co dropped 2.6 percent to 49.93 yuan. Zhongjin Mining Co shed 3.9 percent to 29.10 yuan.
Property developers were also weak. Gemdale Corp fell 1.3 percent to 6.34 yuan. China Vanke dipped 0.2 percent to 8.47 yuan.
Consumer goods producers rose on speculation that fast inflation will drive up prices. Tsingtao Brewery Co rose 0.6 percent to 37.79 yuan. Henan Shuanghui Investment & Development Co climbed 3 percent to 70.55 yuan.
The benchmark Shanghai Composite Index lost 0.1 percent to 2,794.21 points. Turnover fell to 100.2 billion yuan (US$15.5 billion) from yesterday's 110.7 billion yuan.
Gold miners fell after bullion prices fell to US$1,590 level from a 31-year high of US$1,610.6 per ounce. Shandong Gold Mining Co dropped 2.6 percent to 49.93 yuan. Zhongjin Mining Co shed 3.9 percent to 29.10 yuan.
Property developers were also weak. Gemdale Corp fell 1.3 percent to 6.34 yuan. China Vanke dipped 0.2 percent to 8.47 yuan.
Consumer goods producers rose on speculation that fast inflation will drive up prices. Tsingtao Brewery Co rose 0.6 percent to 37.79 yuan. Henan Shuanghui Investment & Development Co climbed 3 percent to 70.55 yuan.
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