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Shanghai shares lose on weaker overseas markets
By Joyce Pan |
May 20, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S stock was slightly lower in the morning session after fluctuations, following the tumbles in overseas markets overnight.
The benchmark Shanghai Composite Index dropped 0.42 percent, or 10.92 points, to end at 2,576.89 points. Turnover stood at 37.3 billion yuan (US$5.5 billion). Losers outnumbered gainers 605 to 231 and 29 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.16 percent to close at 995.89 points.
Gold producers led the decliners after the bullion price lost ground. Zijin Mining, the nation's largest gold producer, fell 2 percent to 7.25 yuan. Zhongjin Gold Corp. slid 3.1 percent to 58.05 yuan. Shandong Gold Corp. dropped 4 percent to 38.03 yuan.
Bucking the downward trend, steel makers advanced. Xinjiang Ba Yi Iron & Steel Co jumped 4.2 percent to 11.8 yuan. Baoshan Iron & Steel Co added 1.6 percent to 6.57 yuan and Angang Steel Co climbed 2.3 percent to 8.3 yuan.
Elsewhere, Shanghai International Airport Co dipped 0.4 percent to 12.54 yuan after saying the passenger number rose 17 percent to 3.2 million in April from a year earlier.
The benchmark Shanghai Composite Index dropped 0.42 percent, or 10.92 points, to end at 2,576.89 points. Turnover stood at 37.3 billion yuan (US$5.5 billion). Losers outnumbered gainers 605 to 231 and 29 remained unchanged.
The Shenzhen Composite Index, which tracks the smaller domestic market, was down 0.16 percent to close at 995.89 points.
Gold producers led the decliners after the bullion price lost ground. Zijin Mining, the nation's largest gold producer, fell 2 percent to 7.25 yuan. Zhongjin Gold Corp. slid 3.1 percent to 58.05 yuan. Shandong Gold Corp. dropped 4 percent to 38.03 yuan.
Bucking the downward trend, steel makers advanced. Xinjiang Ba Yi Iron & Steel Co jumped 4.2 percent to 11.8 yuan. Baoshan Iron & Steel Co added 1.6 percent to 6.57 yuan and Angang Steel Co climbed 2.3 percent to 8.3 yuan.
Elsewhere, Shanghai International Airport Co dipped 0.4 percent to 12.54 yuan after saying the passenger number rose 17 percent to 3.2 million in April from a year earlier.
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