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Shanghai shares lose on weaker banks
By Feng Jianmin |
June 10, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI stocks eased in the morning session as the financial sector retreated from yesterday's surge.
The benchmark Shanghai Composite Index edged down 0.47 percent, or 12.05 points, to close at 2,571.82. Turnover was 36.3 billion yuan (US$5.3 billion), slightly lower than yesterday's 37.1 billion yuan..
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 0.4 percent to 1,071.2 points.
Bank of China lost 1.93 percent to 3.56 yuan. Industrial and Commercial Bank of China declined 0.95 percent to 4.16 yuan. China Merchants Bank fell 1.92 percent to 12.78 yuan.
China Life Insurance Co withdrew 1.77 percent to 23.86 yuan. China Pacific Insurance (Group) Co eased 2.24 percent to 20.98 yuan.
Property shares went mixed after the National Bureau of Statistics reported property prices in 70 major cities were 12.4 percent higher in May from a year earlier, and 0.2 percent higher from last month, the least monthly increase in 14 months. Sales shrank 25 percent from April.
China State Construction Engineering Corp, the nation's largest housing contractor, went down 0.85 percent to 3.52 yuan after reporting a 10 percent increase of sales in the first five months this year from a year earlier. Hefei Urban Construction Development Co gained 1 percent to 11.08 yuan.
China Vanke dropped 1.64 percent to 7.18 yuan. Poly Real Estate Co was 1.24 percent lower to 11.16 yuan. Shenzhen World Union Property Consultancy Co went up 1.22 percent to 27.38 yuan.
Appliances producers extended previous gains on expanding demand. Qingdao Haier advanced 1.6 percent to 20.32 yuan. Sichuan Changhong Electric Co. edged up 0.83 percent to 6.10 yuan. Hisense electric Co. rose 2.04 percent to 14.53 yuan.
The benchmark Shanghai Composite Index edged down 0.47 percent, or 12.05 points, to close at 2,571.82. Turnover was 36.3 billion yuan (US$5.3 billion), slightly lower than yesterday's 37.1 billion yuan..
The Shenzhen Composite Index, which covers the smaller mainland exchange, added 0.4 percent to 1,071.2 points.
Bank of China lost 1.93 percent to 3.56 yuan. Industrial and Commercial Bank of China declined 0.95 percent to 4.16 yuan. China Merchants Bank fell 1.92 percent to 12.78 yuan.
China Life Insurance Co withdrew 1.77 percent to 23.86 yuan. China Pacific Insurance (Group) Co eased 2.24 percent to 20.98 yuan.
Property shares went mixed after the National Bureau of Statistics reported property prices in 70 major cities were 12.4 percent higher in May from a year earlier, and 0.2 percent higher from last month, the least monthly increase in 14 months. Sales shrank 25 percent from April.
China State Construction Engineering Corp, the nation's largest housing contractor, went down 0.85 percent to 3.52 yuan after reporting a 10 percent increase of sales in the first five months this year from a year earlier. Hefei Urban Construction Development Co gained 1 percent to 11.08 yuan.
China Vanke dropped 1.64 percent to 7.18 yuan. Poly Real Estate Co was 1.24 percent lower to 11.16 yuan. Shenzhen World Union Property Consultancy Co went up 1.22 percent to 27.38 yuan.
Appliances producers extended previous gains on expanding demand. Qingdao Haier advanced 1.6 percent to 20.32 yuan. Sichuan Changhong Electric Co. edged up 0.83 percent to 6.10 yuan. Hisense electric Co. rose 2.04 percent to 14.53 yuan.
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