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Shanghai shares ease on weaker FDI
By Ye Zhen |
November 20, 2012, Tuesday
|
Online Edition
Online Edition
SHANGHAI stocks fell in the morning trading after data showed foreign investment inflows to China moderated for the fifth consecutive month in October.
The key Shanghai Composite Index lost 0.28 percent, or 5.57 points to 2,011.42 points. Turnover reached 19.2 billion yuan (US$3.1 billion) by the midday.
Foreign direct investment in China fell 0.24 percent from a year earlier to US$8.3 billion in October, extending the decline to a fifth month, the Ministry of Commerce said today.
China drew a total of US$91.7 billion in foreign direct investment during the January-October period this year, down 3.45 percent from the same period last year, the ministry said.
Ping An Insurance Co, China's second largest insurer, posted the biggest losses in more than three
Weeks and fell 2.6 percent to 35.53 yuan after HSBC said it was in talks to sell all of its 1.23 billion Hong Kong-traded shares in Ping An.
China Life Insurance, the country's biggest insurer, shed 0.4 percent to 17.20 yuan. China Pacific Insurance (Group) Co decreased 0.6 percent to 16.56 yuan.
Brokerages ran into profit-taking after they surged yesterday on relaxed limits on their business operations. Sinolink Securities Co lost 1.5 percent to 15.19 yuan. Soochow Securities Co fell 0.9 percent to 7.39 yuan.
Industrial Securities Co said the stock market is likely to remain weak in the short term due to a liquidity crunch in the year-end.
The key Shanghai Composite Index lost 0.28 percent, or 5.57 points to 2,011.42 points. Turnover reached 19.2 billion yuan (US$3.1 billion) by the midday.
Foreign direct investment in China fell 0.24 percent from a year earlier to US$8.3 billion in October, extending the decline to a fifth month, the Ministry of Commerce said today.
China drew a total of US$91.7 billion in foreign direct investment during the January-October period this year, down 3.45 percent from the same period last year, the ministry said.
Ping An Insurance Co, China's second largest insurer, posted the biggest losses in more than three
Weeks and fell 2.6 percent to 35.53 yuan after HSBC said it was in talks to sell all of its 1.23 billion Hong Kong-traded shares in Ping An.
China Life Insurance, the country's biggest insurer, shed 0.4 percent to 17.20 yuan. China Pacific Insurance (Group) Co decreased 0.6 percent to 16.56 yuan.
Brokerages ran into profit-taking after they surged yesterday on relaxed limits on their business operations. Sinolink Securities Co lost 1.5 percent to 15.19 yuan. Soochow Securities Co fell 0.9 percent to 7.39 yuan.
Industrial Securities Co said the stock market is likely to remain weak in the short term due to a liquidity crunch in the year-end.
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