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Shanghai shares flat amid diving turnover
By Feng Jianmin |
September 21, 2010, Tuesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index closed almost unchanged today while transactions volume tumbled as investors remained cautious before holidays.
The benchmark Shanghai Composite Index edged up 0.11 percent, or 2.84 points, to close at 2,591.55 points. Turnover dropped to 66.3 billion yuan (US$ 9.9 billion) from yesterday's 89.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, increased 0.54 percent to 11,210.74.
China's stock exchanges will be closed for five days from tomorrow to Sunday for the Mid-Autumn Festival, arousing concerns about uncertainties in policy changes.
Property developers were mixed on rumor that the government may release trial plans for property tax after the holidays. China Vanke added 1 percent to 8.15 yuan. Gemdale Corp edged up 0.17 percent to 5.93 yuan. China Merchants Property Development Co lost 0.78 percent to 16.45 yuan.
Banks were flat on news that regulators are planning to introduce new measures to inspect capital quality of banks. Agricultural Bank of China extended previous losses by falling 0.38 percent to 2.59 yuan. China Merchants Bank dipped 0.16 percent to 12.87 yuan. Bank of China added 0.62 percent to 3.24 yuan.
Large fertilizer producers led the gainers after the central government announced plans to restructure the industry to eliminate overcapacity. 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 jumped 3.78 percent to 13.47 yuan. Jiangsu Yangnong Chemical Co advanced 4 percent to 24.86 yuan.
Metal producers lost on concerns that a strong yuan may hurt export. Jiangxi Copper Co slid 4 percent to 29.49 yuan. Yunnan Copper Industry Co shed 2 percent to 20.22 yuan. Aluminum Corp of China lost 0.52 percent to 9.62 yuan.
The benchmark Shanghai Composite Index edged up 0.11 percent, or 2.84 points, to close at 2,591.55 points. Turnover dropped to 66.3 billion yuan (US$ 9.9 billion) from yesterday's 89.8 billion yuan.
The Shenzhen Component Index, which tracks the smaller mainland exchange, increased 0.54 percent to 11,210.74.
China's stock exchanges will be closed for five days from tomorrow to Sunday for the Mid-Autumn Festival, arousing concerns about uncertainties in policy changes.
Property developers were mixed on rumor that the government may release trial plans for property tax after the holidays. China Vanke added 1 percent to 8.15 yuan. Gemdale Corp edged up 0.17 percent to 5.93 yuan. China Merchants Property Development Co lost 0.78 percent to 16.45 yuan.
Banks were flat on news that regulators are planning to introduce new measures to inspect capital quality of banks. Agricultural Bank of China extended previous losses by falling 0.38 percent to 2.59 yuan. China Merchants Bank dipped 0.16 percent to 12.87 yuan. Bank of China added 0.62 percent to 3.24 yuan.
Large fertilizer producers led the gainers after the central government announced plans to restructure the industry to eliminate overcapacity. 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 jumped 3.78 percent to 13.47 yuan. Jiangsu Yangnong Chemical Co advanced 4 percent to 24.86 yuan.
Metal producers lost on concerns that a strong yuan may hurt export. Jiangxi Copper Co slid 4 percent to 29.49 yuan. Yunnan Copper Industry Co shed 2 percent to 20.22 yuan. Aluminum Corp of China lost 0.52 percent to 9.62 yuan.
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