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Shanghai shares start the week lower
By Ye Zhen |
March 18, 2013, Monday
|
Online Edition
Online Edition
SHANGHAI stocks were down this morning after data showed home prices rose in more cities last month. The key Shanghai Composite Index lost 0.91 percent to 2,257 points. Turnover was 46.1 billion yuan (US$7.4 billion) by midday.
Excluding government-funded affordable housing, new home prices in February rose from a month earlier in 66 of the 70 cities monitored by the government, compared with 53 in January, the National Bureau of Statistics said today.
Only one city saw declining home price and three cities said their prices were flat last month, the bureau said.
Property developers were mixed. Poly Real Estate added 0.8 percent to 10.73 yuan. Gemdale Corporation gained 0.7 percent to 6.04 yuan. Shanghai Prosolar Resources Development Co slumped 9 percent to 11.52 yuan.
Xiao Gang, former chairman of Bank of China, was named the chairman of the China Securities Regulatory Commission, succeeding Guo Shuqing, the Shanghai Securities News reported yesterday.
The leadership change will increase market uncertainty in the short term, especially on the reboot of initial public offering, Damo Investment Co said in a note today.
Most brokerages lost. CITIC Securities shed 2.3 percent to 12.59 yuan. Haitong Securities dropped 3 percent to 10.81 yuan. Everbright Securities lost 2.4 percent to 13.21 yuan.
Excluding government-funded affordable housing, new home prices in February rose from a month earlier in 66 of the 70 cities monitored by the government, compared with 53 in January, the National Bureau of Statistics said today.
Only one city saw declining home price and three cities said their prices were flat last month, the bureau said.
Property developers were mixed. Poly Real Estate added 0.8 percent to 10.73 yuan. Gemdale Corporation gained 0.7 percent to 6.04 yuan. Shanghai Prosolar Resources Development Co slumped 9 percent to 11.52 yuan.
Xiao Gang, former chairman of Bank of China, was named the chairman of the China Securities Regulatory Commission, succeeding Guo Shuqing, the Shanghai Securities News reported yesterday.
The leadership change will increase market uncertainty in the short term, especially on the reboot of initial public offering, Damo Investment Co said in a note today.
Most brokerages lost. CITIC Securities shed 2.3 percent to 12.59 yuan. Haitong Securities dropped 3 percent to 10.81 yuan. Everbright Securities lost 2.4 percent to 13.21 yuan.
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