Related News
Shanghai shares edge down despite improved liquidity
By Ye Zhen |
February 6, 2013, Wednesday
|
Online Edition
Online Edition
SHANGHAI stocks drifted slightly lower this morning as the declines among coal producers and property developers offset the gains by financial stocks.
The benchmark Shanghai Composite Index shed 0.05 percent to 2,431.86 points. Turnover was 60.8 billion yuan (US$9.8 billion) by midday.
"Investment sentiment is improving as recent data pointed to a recovering economy," Avic Securities said in a report today. "But there is need for market corrections after continuous gains."
The People's Bank of China, the Chinese central bank, yesterday injected 450 billion yuan into the country's financial system via 14-day reverse repurchase agreements, the biggest daily injection ever, in a bid to increase market liquidity ahead of the week-long Spring Festival holiday, which starts on Saturday.
Coal producers led the market down after surging yesterday on a reshuffle plan released by the National Energy Administration.
Shanxi Lanhua Sci-Tech Venture Co dropped 1.8 percent to 22.80. Yang Quan Coal Industry (Group) Co decreased 2.1 percent to 16.54 yuan. Shanxi Lu'an Environmental Energy Development Co decreased 2.3 percent to 24.27 yuan.
Property developers declined on speculation that the Chinese central government may tighten property restrictions after home prices rose across the country.
Poly Real Estate, China's second largest developer, fell 1.9 percent to 13.16 yuan. Gemdale Corporation lost 2 percent to 8.03 yuan.
Brokerages gained on expectation a rebound in the stock market will boost their profitability. Citic Securities, the biggest listed brokerage, rose 3 percent to 15.56 yuan. Sinolink Securities Co increased 2.5 percent to 18.49 yuan. Haitong Securities Co added 3 percent to 12.68 yuan.
The benchmark Shanghai Composite Index shed 0.05 percent to 2,431.86 points. Turnover was 60.8 billion yuan (US$9.8 billion) by midday.
"Investment sentiment is improving as recent data pointed to a recovering economy," Avic Securities said in a report today. "But there is need for market corrections after continuous gains."
The People's Bank of China, the Chinese central bank, yesterday injected 450 billion yuan into the country's financial system via 14-day reverse repurchase agreements, the biggest daily injection ever, in a bid to increase market liquidity ahead of the week-long Spring Festival holiday, which starts on Saturday.
Coal producers led the market down after surging yesterday on a reshuffle plan released by the National Energy Administration.
Shanxi Lanhua Sci-Tech Venture Co dropped 1.8 percent to 22.80. Yang Quan Coal Industry (Group) Co decreased 2.1 percent to 16.54 yuan. Shanxi Lu'an Environmental Energy Development Co decreased 2.3 percent to 24.27 yuan.
Property developers declined on speculation that the Chinese central government may tighten property restrictions after home prices rose across the country.
Poly Real Estate, China's second largest developer, fell 1.9 percent to 13.16 yuan. Gemdale Corporation lost 2 percent to 8.03 yuan.
Brokerages gained on expectation a rebound in the stock market will boost their profitability. Citic Securities, the biggest listed brokerage, rose 3 percent to 15.56 yuan. Sinolink Securities Co increased 2.5 percent to 18.49 yuan. Haitong Securities Co added 3 percent to 12.68 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.
