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Shanghai shares drop with turnover tumbling
By Feng Jianmin |
September 21, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index dipped in the morning session with transactions volume tumbling as investors remained cautious before holidays.
The benchmark Shanghai Composite Index dipped 0.21 percent, or 5.56 points, to close at 2,583.15 points. Turnover dropped to 35.9 billion yuan (US$ 5.35 billion), less than half of yesterday morning's 89.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, increased 0.29 percent to 11,182.29.
China's stock exchanges will be closed for five days from tomorrow to Sunday for the Mid-Autumn Festival, arousing concerns about policy changes during the period.
Property developers and banks were mixed. China Vanke edged up 0.87 percent to 8.14 yuan. Gemdale Corp dipped 0.17 percent to 5.91 yuan. Industrial and Commercial Bank of China was unchanged at 3.97 yuan. Agricultural Bank of China extended previous losses by losing 0.38 percent to 2.59 yuan.
Agricultural-related stocks led the gainers on growing prices of crops. Sichuan New Hope Agribusiness Co hiked by a daily limit of 10 percent for the 6th consecutive days to 15.17 yuan. Zhejiang Xinan Chemical Industrial Group Co, a fertilizer producer, jumped 4 percent to 13.50 yuan.
Metal producers lost on concerns that a stronger yuan may hurt exports. Jiangxi Copper Co slid 3.51 percent to 29.65 yuan. Yunnan Copper Industry Co shed 1.89 percent to 20.24 yuan. Aluminum Corp of China lost 0.31 percent to 9.64 yuan.
The benchmark Shanghai Composite Index dipped 0.21 percent, or 5.56 points, to close at 2,583.15 points. Turnover dropped to 35.9 billion yuan (US$ 5.35 billion), less than half of yesterday morning's 89.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, increased 0.29 percent to 11,182.29.
China's stock exchanges will be closed for five days from tomorrow to Sunday for the Mid-Autumn Festival, arousing concerns about policy changes during the period.
Property developers and banks were mixed. China Vanke edged up 0.87 percent to 8.14 yuan. Gemdale Corp dipped 0.17 percent to 5.91 yuan. Industrial and Commercial Bank of China was unchanged at 3.97 yuan. Agricultural Bank of China extended previous losses by losing 0.38 percent to 2.59 yuan.
Agricultural-related stocks led the gainers on growing prices of crops. Sichuan New Hope Agribusiness Co hiked by a daily limit of 10 percent for the 6th consecutive days to 15.17 yuan. Zhejiang Xinan Chemical Industrial Group Co, a fertilizer producer, jumped 4 percent to 13.50 yuan.
Metal producers lost on concerns that a stronger yuan may hurt exports. Jiangxi Copper Co slid 3.51 percent to 29.65 yuan. Yunnan Copper Industry Co shed 1.89 percent to 20.24 yuan. Aluminum Corp of China lost 0.31 percent to 9.64 yuan.
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