Related News
Shanghai shares fall led by banks on loan caution
SHANGHAI'S key stock index fell for the first time in five days at the midday break after banks were urged to contain lending to tackle bad loans.
The benchmark Shanghai Composite Index dropped 1 percent, or 33.7 points, to close at 3,213.17 points. Turnover stood at 92.4 billion yuan (US$13.59 billion). Losers outnumbered gainers 663 to 216 while 7 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.38 percent to close at 1,220.11 points.
The nation's banks should better pace their lending this year on falling capital-adequacy-ratio, said Liu Mingkang, chairman of China Banking Regulatory Commission, at a forum in Hong Kong today.
Premier Wen Jiabao also dropped the phrase of "relatively loose" monetary policy in a speech yesterday, indicating a possible exit of the stimulus measures. Wen said China will manage the pace of extending loans to prevent financial risks.
Lenders led the decliners. Bank of China inched down 0.7 percent to 4.14 yuan. China Merchants Bank retreated 1.4 percent to 16.02 yuan. China Construction Bank Corp withdrew 1.2 percent to 5.83 yuan. Industrial and Commercial Bank of China lowered 0.8 percent to 5.02 yuan.
Commodity producers extended their losing streak on lower prices. Jiangxi Copper Co eased 1.9 percent to 38.35 yuan. Aluminum Corp of China slid 2 percent to 14.11 yuan. Yunnan Chihong Zinc & Germanium Co sank 2.2 percent to 26.e yuan and Minmetals Development Co shed 0.9 percent to 19.94 yuan.
The benchmark Shanghai Composite Index dropped 1 percent, or 33.7 points, to close at 3,213.17 points. Turnover stood at 92.4 billion yuan (US$13.59 billion). Losers outnumbered gainers 663 to 216 while 7 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 1.38 percent to close at 1,220.11 points.
The nation's banks should better pace their lending this year on falling capital-adequacy-ratio, said Liu Mingkang, chairman of China Banking Regulatory Commission, at a forum in Hong Kong today.
Premier Wen Jiabao also dropped the phrase of "relatively loose" monetary policy in a speech yesterday, indicating a possible exit of the stimulus measures. Wen said China will manage the pace of extending loans to prevent financial risks.
Lenders led the decliners. Bank of China inched down 0.7 percent to 4.14 yuan. China Merchants Bank retreated 1.4 percent to 16.02 yuan. China Construction Bank Corp withdrew 1.2 percent to 5.83 yuan. Industrial and Commercial Bank of China lowered 0.8 percent to 5.02 yuan.
Commodity producers extended their losing streak on lower prices. Jiangxi Copper Co eased 1.9 percent to 38.35 yuan. Aluminum Corp of China slid 2 percent to 14.11 yuan. Yunnan Chihong Zinc & Germanium Co sank 2.2 percent to 26.e yuan and Minmetals Development Co shed 0.9 percent to 19.94 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.