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Shanghai shares mixed as CPI slows to 3-year low
By Ye Zhen |
November 9, 2012, Friday
|
Online Edition
Online Edition
SHANGHAI stocks swung between gains and losses as investors were digesting new data that showed China's inflation growth slowed to a 33-month low in October while the fall of producer prices has eased.
The key Shanghai Composite Index added 0.15 percent to 2,074.53 points. Turnover was 19.3 billion yuan (US$3.1 billion) in the morning session.
China's Consumer Price Index rose 1.7 percent year on year in October, down from a 1.9 percent increase in September and reaching the lowest level since January 2010, the National Bureau of Statistics said today.
China's Producer Price Index, a major gauge of inflation at the wholesale level, fell 2.8 percent year on year in October, down from September's decrease of 3.6 percent, the bureau said.
Property developers gained after the Ministry of Housing said 5.05 million affordable housing units have been built in China during the January-October period, surpassing this year's target of 5 million units.
Poly Real Estate, China's second largest developer, advanced 0.9 percent to 11.30 yuan. Gemdale Corporation rose 1.1 percent to 5.34 yuan.
Brokerages declined on weak earnings. Data from Wind Information Co showed the gross net profit of 19 brokerages listed in the Shanghai and Shenzhen bourses dived 41.54 percent in October from a month earlier to 687 million yuan.
CITIC Securities, the biggest listed brokerage, lost 0.9 percent to 10.80 yuan. Everbright Securities fell 1.3 percent to 11.23 yuan.
The key Shanghai Composite Index added 0.15 percent to 2,074.53 points. Turnover was 19.3 billion yuan (US$3.1 billion) in the morning session.
China's Consumer Price Index rose 1.7 percent year on year in October, down from a 1.9 percent increase in September and reaching the lowest level since January 2010, the National Bureau of Statistics said today.
China's Producer Price Index, a major gauge of inflation at the wholesale level, fell 2.8 percent year on year in October, down from September's decrease of 3.6 percent, the bureau said.
Property developers gained after the Ministry of Housing said 5.05 million affordable housing units have been built in China during the January-October period, surpassing this year's target of 5 million units.
Poly Real Estate, China's second largest developer, advanced 0.9 percent to 11.30 yuan. Gemdale Corporation rose 1.1 percent to 5.34 yuan.
Brokerages declined on weak earnings. Data from Wind Information Co showed the gross net profit of 19 brokerages listed in the Shanghai and Shenzhen bourses dived 41.54 percent in October from a month earlier to 687 million yuan.
CITIC Securities, the biggest listed brokerage, lost 0.9 percent to 10.80 yuan. Everbright Securities fell 1.3 percent to 11.23 yuan.
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