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Shanghai shares lose on weaker developers and steel firms
By Ding Yining |
May 12, 2010, Wednesday
|
Online Edition
Online Edition
SHANGHAI'S key stock index slid nearly 1 percent in the morning session with flat performance of property shares and steel makers among concerns that more detailed plans will be introduced to curb property prices.
The benchmark Shanghai Composite Index lost 0.94 percent, or 24.91 points, to close at 2,622.67 points. Turnover was 46.7 billion yuan (US$6.84 billion). Losers outnumbered gainers by 777 to 91 and 54 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller mainland market, dropped 2.01 percent to close at 1,004.07 points.
The Shanghai Securities News cited an unnamed source close to the city's government as saying that detailed plans to curb property prices in Shanghai have been made and will be released as soon as this month,
Jilin Guanghua Holding Group slumped 6.56 percent to 14.96 yuan. Shanghai Shimao Co lost 2.34 percent to 10.01 yuan. Gemdale Corporation dipped 0.16 percent to 6.08 yuan. Shanghai AJ Corporation lost 0.79 percent to 8.80 yuan.
Guangzhou Iron & Steel Co slid 9.71 percent to 7.81 yuan. Baoshan Iron & Steel Co dropped 1.84 percent to 6.39 yuan. Maanshan Iron & Steel lost 1.07 percent to 8.30 yuan.
China Railway Construction Corp said it units had won construction contracts totalling 33.4 billion yuan. The stock added 0.66 percent to 7.64 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, dropped 0.67 percent to 8.90 yuan. Jiangxi Copper lost 0.57 percent to 29.91 yuan. Yunnan Copper dipped 1.35 percent to 21.22 yuan. Shandong Gold Mining Co fell 1.46 percent to 77.16 yuan.
TCL Corporation said the number of LCD Television sets sold in the first four months added 38.6 percent from the same period last year to 2.49 million units. The stock dipped 0.24 percent to 4.20 yuan.
Banks and financial shares showed mixed results. Ping An Insurance (Group) Co, the country's second largest insurer, said its premiums totalled 85 million yuan in the first four months. Its shares rose 1.13 percent to 47.35 yuan. Bank of Communications dipped 0.15 percent to 6.58 yuan. Shanghai Pudong Development Bank edged up 0.27 percent to 18.80 yuan.
The benchmark Shanghai Composite Index lost 0.94 percent, or 24.91 points, to close at 2,622.67 points. Turnover was 46.7 billion yuan (US$6.84 billion). Losers outnumbered gainers by 777 to 91 and 54 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller mainland market, dropped 2.01 percent to close at 1,004.07 points.
The Shanghai Securities News cited an unnamed source close to the city's government as saying that detailed plans to curb property prices in Shanghai have been made and will be released as soon as this month,
Jilin Guanghua Holding Group slumped 6.56 percent to 14.96 yuan. Shanghai Shimao Co lost 2.34 percent to 10.01 yuan. Gemdale Corporation dipped 0.16 percent to 6.08 yuan. Shanghai AJ Corporation lost 0.79 percent to 8.80 yuan.
Guangzhou Iron & Steel Co slid 9.71 percent to 7.81 yuan. Baoshan Iron & Steel Co dropped 1.84 percent to 6.39 yuan. Maanshan Iron & Steel lost 1.07 percent to 8.30 yuan.
China Railway Construction Corp said it units had won construction contracts totalling 33.4 billion yuan. The stock added 0.66 percent to 7.64 yuan.
China Petroleum & Chemical Corp, Asia's largest refiner and also known as Sinopec, dropped 0.67 percent to 8.90 yuan. Jiangxi Copper lost 0.57 percent to 29.91 yuan. Yunnan Copper dipped 1.35 percent to 21.22 yuan. Shandong Gold Mining Co fell 1.46 percent to 77.16 yuan.
TCL Corporation said the number of LCD Television sets sold in the first four months added 38.6 percent from the same period last year to 2.49 million units. The stock dipped 0.24 percent to 4.20 yuan.
Banks and financial shares showed mixed results. Ping An Insurance (Group) Co, the country's second largest insurer, said its premiums totalled 85 million yuan in the first four months. Its shares rose 1.13 percent to 47.35 yuan. Bank of Communications dipped 0.15 percent to 6.58 yuan. Shanghai Pudong Development Bank edged up 0.27 percent to 18.80 yuan.
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