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Shanghai stock index little changed in the morning
By Feng Jianmin |
July 15, 2011, Friday
|
Online Edition
Online Edition
SHANGHAI'S key stock index was almost unchanged in the morning session as losses made by property developers more than offset gains made by paper makers and ship manufacturers.
The benchmark Shanghai Composite Index edged down 0.04 percent, or 1.06 points, to 2,809.38 points. Turnover fell to 67.9 billion yuan (US$10.5 billion) from yesterday morning's 71 billion yuan.
Paper makers led the gainers on speculation that the companies' costs on imports will drop on weaker US dollar. Henan Yinge Industrial Investment Co jumped by the daily limit of 10 percent to 11.21 yuan. Fujian Qingshan Paper Industry rose 2 percent to 4.48 yuan.
Ship manufacturers gained on news that Zhejiang and Jiangsu provinces will invest a total of 802 billion yuan by 2015 to develop marine economy. China CSSC Holdings added 1 percent to 49.26 yuan. China Shipbuilding Industry Company grew 1.2 percent to 13.75 yuan.
Property developers led the decliners after the State Council said that it may extend restrictions on buying homes to smaller cities where home prices remain extremely high to help fend off a speculative bubble. China Vanke, China's largest listed property developer, lost 2.1 percent to 8.40 yuan. Gemdale Corp fell 2 percent to 6.33 yuan.
The benchmark Shanghai Composite Index edged down 0.04 percent, or 1.06 points, to 2,809.38 points. Turnover fell to 67.9 billion yuan (US$10.5 billion) from yesterday morning's 71 billion yuan.
Paper makers led the gainers on speculation that the companies' costs on imports will drop on weaker US dollar. Henan Yinge Industrial Investment Co jumped by the daily limit of 10 percent to 11.21 yuan. Fujian Qingshan Paper Industry rose 2 percent to 4.48 yuan.
Ship manufacturers gained on news that Zhejiang and Jiangsu provinces will invest a total of 802 billion yuan by 2015 to develop marine economy. China CSSC Holdings added 1 percent to 49.26 yuan. China Shipbuilding Industry Company grew 1.2 percent to 13.75 yuan.
Property developers led the decliners after the State Council said that it may extend restrictions on buying homes to smaller cities where home prices remain extremely high to help fend off a speculative bubble. China Vanke, China's largest listed property developer, lost 2.1 percent to 8.40 yuan. Gemdale Corp fell 2 percent to 6.33 yuan.
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