Related News
Shanghai shares ease on earnings concern
SHANGHAI stocks fell this morning from its four-month high amid concern about listed companies' earnings.
The key Shanghai Composite Index lost 0.52 percent, or 11.21 points, to 2,157.15 points. Turnover reached 52.2 billion yuan (US$8.4 billion) by midday.
UBS Securities today lowered its forecast for the annual growth rate of mainland-listed companies' earnings by 0.2 percentage points to 5.7 percent in 2012.
The broker also expects the combined net profit of 300 non-financial stocks listed in Shanghai and Shenzhen markets to drop 5.3 percent from a year earlier.
"The ongoing de-stocking process is likely to dent the growth of domestic investment and the market will face downward risk if there is no more policy support," the broker said in a report.
Makers of building materials led the decline amid a bout of profit taking after earlier surging on government's plan on urbanization. Fujian Cement Inc decreased 3.6 percent to 7.50 yuan. Xinjiang Qingsong Building Materials and Chemicals (Group) Co dropped 4 percent to 9.74 yuan. Ningxia Buliding Materials Group Co shed 2.7 percent to 8.73 yuan.
Brokerages also fell. Everbright Securities lost 3.7 percent to 13.03 yuan. Soochow Securities Co declined 2.7 percent to 7.47 yuan. Sinolink Securities Co fell 2.1 percent to 14.62 yuan.
The key Shanghai Composite Index lost 0.52 percent, or 11.21 points, to 2,157.15 points. Turnover reached 52.2 billion yuan (US$8.4 billion) by midday.
UBS Securities today lowered its forecast for the annual growth rate of mainland-listed companies' earnings by 0.2 percentage points to 5.7 percent in 2012.
The broker also expects the combined net profit of 300 non-financial stocks listed in Shanghai and Shenzhen markets to drop 5.3 percent from a year earlier.
"The ongoing de-stocking process is likely to dent the growth of domestic investment and the market will face downward risk if there is no more policy support," the broker said in a report.
Makers of building materials led the decline amid a bout of profit taking after earlier surging on government's plan on urbanization. Fujian Cement Inc decreased 3.6 percent to 7.50 yuan. Xinjiang Qingsong Building Materials and Chemicals (Group) Co dropped 4 percent to 9.74 yuan. Ningxia Buliding Materials Group Co shed 2.7 percent to 8.73 yuan.
Brokerages also fell. Everbright Securities lost 3.7 percent to 13.03 yuan. Soochow Securities Co declined 2.7 percent to 7.47 yuan. Sinolink Securities Co fell 2.1 percent to 14.62 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.